GBPUSD – Daily Forex Technicals by ForexHound.com July 7th

GBPUSD has followed the general trend of the USD pairs and started to slip under the buck’s pressure, looking at the 4 hours chart we can see a bearish trend forming and we can expect other traders to start selling any minor strength or bounce from intraday support levels. We are trading close to the 200 MA and this is an important level but the pair should break below it if we are to see additional USD strength. GBPUSD has followed the general trend of the USD pairs and started to slip under the buck’s pressure, looking at the 4 hours chart we can see a bearish trend forming and we can expect other traders to start selling any minor strength or bounce from intraday support levels. We are trading close to the 200 MA and this is an important level but the pair should break below it if we are to see additional USD strength.

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