Citi: GBP/USD below the 21-week MA
Strategists at Citi note that the recent close below the 21-week MA is an important bearish signals and indicates further losses for GBP/USD. This MA provided a good support to the cable as it had limited every correction since the beginning of the year.
Next medium-term bearish targets are seen at 1.6693 (June low) and 1.6419/60 (March low), analysts say.
Chart. Weekly GBP/USD