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Forex Flash: GBP/USD downside target at 1.53 – RBS

With Cable back to near recent 5-month lows area around the 1.5640, last at 1.5658, down from yesterday's highs at 1.5810, Senior FX Strategist at RBS Paul Robson thinks that “rallies should be sold and the downside target remains the 1.53 level,” the analyst says, mostly based on “Consecutive weeks of ‘lower lows’and ‘lower highs’ in GBP/USD,” Paul notes.

Forex Flash: After a 5-wave pattern down, GBP/USD due for 2nd wave recovery? - JPMorgan

According to JPMorgan FX strategist Niall O'Connor, "the breakout of a several years-long triangle consolidation to the downside in Cable is a strong indication of what´s to come in the coming weeks and months..."
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