The GBP/USD pair recovers from a weekly low of 1.5055 posted late Monday, supported by Pound self strength and EUR/GBP slide to fresh multi-year lows. There is no relevant fundamental data coming from the UK until Wednesday, when BOE Minutes and the monthly employment figures will be released.
In the meantime, the 4 hours chart shows that the price aims to break above a bearish 20 SMA, whilst indicators head higher below their midlines, still not confirming an upward continuation. Some follow through above 1.5180 should favor more intraday gains towards 1.5220/30 area, whilst if this last gives up, 1.5270 area comes next. To the downside, 1.5110 is the immediate support and a break below it once again will likely lead to a retest of 1.5030/50 price zone.
View Live Chart for GBP/USD
In the meantime, the 4 hours chart shows that the price aims to break above a bearish 20 SMA, whilst indicators head higher below their midlines, still not confirming an upward continuation. Some follow through above 1.5180 should favor more intraday gains towards 1.5220/30 area, whilst if this last gives up, 1.5270 area comes next. To the downside, 1.5110 is the immediate support and a break below it once again will likely lead to a retest of 1.5030/50 price zone.
View Live Chart for GBP/USD
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