The GBP/USD pair fell down to 1.5247 late Wednesday and following the US Central Bank latest announcement, in which officers said that they will consider a rate hike in their upcoming December meeting. Dollar's demand has weighed on the Pound, albeit the decline has been limited, given that the BOE is also in the tightening path.
The UK has just released its money data, showing that business lending decreased in October, whist mortgage lending came out at 68.874K against previous 71.03K, but overall strong.
Ahead of the release of the US GDP data, the event of the day, the 4 hours chart shows that the pair consolidates near Wednesday's low contained below 1.5280, the immediate resistance. The technical indicators in the mentioned time frame had lost their bearish strength but hold near oversold readings, whilst the 20 SMA continues heading lower above the current price. The downside is favored although a downward acceleration below the mentioned low is required to see the pair approaching the 1.5200 figure.
Above 1.5280 on the other hand, the pair can correct up to 1.5330 in the short term, particularly if upcoming US data results disappointing.
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