The GBP/USD pair bounces from a daily low of 1.5109 holding around its daily opening and limited to the upside by 1.5161. Having failed to overcome the weekly high of 1.5224 late Wednesday, the 4 hours chart shows that the price struggles around a bullish 20 SMA, albeit indicators turned lower and are about to break their midlines to the downside, not yet signaling a clear downward continuation.
Some follow through below the 1.5110 price zone should fuel the slide towards the next intraday support at 1.5050/60, while continued selling pressure through this last should see the decline reaching the critical 1.5000 figure. To the upside, 1.5160 stands as immediate resistance as per several intraday highs and lows around the level. Should the pair advance above it, 1.5200/20 area comes as next probable bullish target.
View Live Chart for GBP/USD
Some follow through below the 1.5110 price zone should fuel the slide towards the next intraday support at 1.5050/60, while continued selling pressure through this last should see the decline reaching the critical 1.5000 figure. To the upside, 1.5160 stands as immediate resistance as per several intraday highs and lows around the level. Should the pair advance above it, 1.5200/20 area comes as next probable bullish target.
View Live Chart for GBP/USD
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