GBP down against the greenback - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik points out that following the BoE's meeting, during which the central bank held policy steady as expected, the GBP/USD is trading a few pips above the 1.6822 daily low at 1.6829.

Key quotes

"The hourly chart is showing price below its 20 SMA and indicators heading lower in negative territory, supporting a test of 1.6800."

"In the 4 hours chart the picture is pretty much the same, with 20 SMA capping the upside around 1.6860 and indicators headed south."

"A break below mentioned low should lead to a quick test of 1.6770, in route to 1.6730 stronger support."