eases, the risk perception could continue to drive the pair's action and the bearish tilt in the near-term technical outlook suggests that further losses are likely.
Reuters reported on Monday that 30 of 51 economists that took part in a recently conducted survey expect the Bank of England to hike the policy rate by 50 basis points at its September meeting. This headline failed to help the GBP/USD is now trading below the 50-period and the 100-period SMAs on the four-hour chart and the Relative Strength Index indicator is pushing lower toward 40. Both of these technical developments confirm the lack of buyers' interest in the British pound.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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