GBP/USD Update – 21/06/2017 (10:51am) – by Arjun Lakhanpal

June 21, 2017 by

Cable making new session lows as Europe walks in..GBP remains weak on the charts having broken below 1.2640. For a while now it has struggled at its 55 day moving average at 1.2811 and while capped by its 20 day ma at 1.2836 it will maintain a bearish bias. Charts now suggest losses to extend to the 200 day moving average at 1.2558 and then the 1.2468/61.8% retracement over time. There is also some potential for a test as far as 1.2366 the 10th April low..

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