Two technical points traders are still waiting for. The death cross on the British pound/US dollar where the 50-day simple moving average, currently 1.5347, will fall below the 100-day simple moving average, currently 1.5333. The cross below may signal a bout of sustained trading weakness in the pound against the dollar. One caveat, the 50-day SMA rose above the 100-day SMA on June 12, a golden cross, but cable has lost 0.2 percent since then and at the trough around July 9 was down 5.2 percent. So much for that technical buy signal. Cable has been in overbought territory based on the 14-day exponential relative strength index since August 14.
Dollar/Swiss franc is also looking at a death cross with the 50-day simple moving average at 0.9358 and the 200-day simple moving average at 0.9350. The 50-day SMA rose above the 200-day SMA in that pair on April 25. To the last peak on July 9, the dollar gained 2.9 percent from the golden cross but is now down 2.1 percent since April 25.