GBP/USD extends decline below the 1.6900 level

By FXstreet.com | July 31, 2014 AAA

FXStreet (San Francisco) - After falling 70 pips from 1.6925, the Sterling is trading now at lows since June 12 at 1.6855 against the US Dollar.



Currently, GBP/USD is trading at 1.6866, down 0.27% on the day, having posted a daily high at 1.6928 and low at 1.6857. The hourly FXStreet OB/OS Index is showing oversold conditions, alongside the FXStreet Trend Index which is slightly bearish.



GBP/USD sentiment



The GBP/USD is now testing the 100-day MA at 1.6855, next supports would be 1.6845 and 1.6800. On the upside, resistances are at 1.6875, 1.6925 and 1.6950.



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