Citi FX holds a GBP/USD short
Currency strategists at CitiFX hold a short position on GBP/USD from $1.7124 and with a stop at $1.7225. Daily close below $1.6996 opened the way for a deeper decline.
Analysts pay attention to the momentum reversal on the weekly chart. In their view, market inability to break above $1.7200 reveals increasing weakness of the GBP buyers.
Chart. H4 GBP/USD