FXStreet (Córdoba) - The GBP/USD posted the fifth daily decline in a row after ending Tuesday at 1.7060/65, down 0.07% and the lowest daily close for July. Despite falling against the US dollar the Pound was the best performer among European currencies.
During the American session price bottomed at 1.7040 but is was able to hold above Friday’s lows. While to the upside, the area around 1.7065/80 capped the recovery.
GPB/USD under correction mode
The pair continues to move in a bearish correction mode, after being unable to break above 1.7200. Despite falling constantly since last week, the pair accumulates a decline of less than 100 pips.