FXstreet.com (Barcelona) - GBP/USD has posted a morning low at 1.5801 as UK PM Cameron delivers his long anticipated speech on Britain´s relationship with the European Union.Spot has since retraced the morning dip and is trading at 1.5829 as the PM has given assurances that the UK will not be flung into an imminent in-out vote and will look to restructure its relationship with the Union along the lines agreed when it first joined before any steps are taken. He also highlights that the UK wants to stay inside a reformed EU, but disillusionment is at an all time high. However, spot remains under some downside pressure with hourly MA´s hinting at some downside momentum. RSI is currently at 48 and looks capped below 50 in the near term.
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