Monday’s trading for GBP/USD was mixed, sentiment trading sideways inside Friday’s range for an unchanged close. The market is posting lower daily highs, which is negative, but prices remain inside the strong up-week posted 3 weeks ago.
There is a bearish bias though, so with this in mind the outlook for Tuesday is to sell on the open and at 1.7101, yesterday’s high, with a stop loss at 1.7119, Friday’s top. Targets are to 1.7055, yesterday’s low, 1.7036, Friday’s base and 1.7008, the 30th June low trade.