GBP/USD: snapshot analysis - BBH

Analysts at Brown Brothers Harriman noted that Sterling fell each day last week.

Key Quotes:

"It was the worse performing major currency, losing 2% against the dollar.

It has fallen in 12 of the past 15 sessions in this three-week slide that has taken it to its lowest level since early November.  It has the feel of year-end related adjustments more than fundamentally driven, though the rate discount to the US is historically large.  

How it performs near $1.2200, which is the 61.8% retracement of the rally since the flash crash in early October.  

A break could send it back into the $1.2080 area.  

The technical indicators are not in agreement.  

The MACDs recently turned lower, but the Slow Stochastics are overextended to the downside. The RSI is tracking prices lower.