The GBP/USD pair pressures the base of its latest range, breaking through the 1.4800 level, amid dollar intraday strength. The pair accelerates below past week low at 1.4796, anticipating some additional declines for the day.
The 4 hours chart shows a strong bearish momentum coming from technical readings, as the price retraces from a bearish 20 SMA, currently around 1.4860. Nevertheless, as long as below 1.4800, the downside is favored towards the next strong static support level at 1.4730, whilst if below this last, the downward potential may accelerate towards 1.4690. Above 1.4800 on the other hand, the pair may advance up to the mentioned 1.4860, with selling interest probably surging near the level.
View Live Chart for GBP/USD
The 4 hours chart shows a strong bearish momentum coming from technical readings, as the price retraces from a bearish 20 SMA, currently around 1.4860. Nevertheless, as long as below 1.4800, the downside is favored towards the next strong static support level at 1.4730, whilst if below this last, the downward potential may accelerate towards 1.4690. Above 1.4800 on the other hand, the pair may advance up to the mentioned 1.4860, with selling interest probably surging near the level.
View Live Chart for GBP/USD
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