Tuesday’s renewal of GBP/USD selling pressure deepened into a 2nd down day yesterday. Prices remained hugging the lower end of a falling Keltner channel with new 7 week lows posted and a test of an important weekly Marabuzo line made.
However, with signals for sentiment oversold the lows were not maintained – more than half of the original downside regained into the close- and it is that rally from the important Marabuzo line that leaves sentiment mildly positive with potential for 1.6957 intraday.
