Barclays: bearish on GBP/USD
GBP/USD extends the decline on Monday, testing $1.6330.
According to analysts at Barclays, a daily close below $1.6300 will pull the cable down to $1.5850 in the coming weeks. They note that the pair has broken the July trend line to the downside. Analysts point that GBP could find some short-term support in the $1,6300/10 area.
Chart. Daily GBP/USD