GBP/USD is weak ahead of trend support - BMO Capital Markets

By FXstreet.com | Updated July 29, 2014 AAA

FXStreet (Guatemala) - Stephen Gallo, European Head of Currency Strategy at BMO Capital explains some of the current conditions around Sterling.



Key Quotes:



"The GBP was weak”,



“It’s unlikely to have fallen much in the wake of the IMF’s latest comments if net positioning wasn’t already so stretched”.



“Technical trendline support in GBP/USD from the November 2013 low is just below 1.6950."



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