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


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