GBP/USD holding so far above 1.6900 - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik sees the GBP/USD staying above the 1.6900 level, with the downside limited despite the general strength of the greenback.

Key quotes

“Nevertheless, the pair has broke below a daily ascendant trend line coming from October last year, and the hourly chart presents a strong bearish tone, with 20 SMA heading lower and converging with the broken trend line at 1.6950, and indicators heading strongly south near oversold levels.”

“The 4 hours chart also presents a bearish bias, although the movements are expected to remain limited.”