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2014.07.2906:54:00UTC+00Cmc Markets Gbp/usd Outlook
After eight successive down days in a row the pound managed to hold above the 50 day MA and support between $1.6950 and $1.6970, but the lack of rebound is a concern.
A break through $1.6950 could well trigger a sharp roll over towards $1.6845 and the 100 day MA.
Traders need to see a rebound back through $1.7030 to stabilise in the short term and argue for a retest of $1.7100.
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