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.