GBP/USD: still room for further decline – BBH

By FXStreet FXStreet (Edinburgh) – Analysts at BBH see the likeliness of the sterling to shed further ground in the next months.

Key Quotes

“Sterling hit a low near $1.4565 in April and then made a spectacular recovery in two months to reach $1.5930”.

“However, it is has been trending lower since, and there is nothing in the technical condition that suggest sterling’s has neared a significant bottom”.

“A test on the April lows seems likely, and a break could spur another 2% decline to bring it to the 2010 low near $1.4230”.
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Source:: FX Street