The British Pound is once again under pressure during the European session, down against the greenback to 1.4867, after advancing up to 1.4912 during Asian hours. There were no news in the UK this Tuesday, although the US will release some interest figures later today, including the December consumer confidence data.
In the meantime the GBP/USD pair maintains its bearish tone, as the 4 hours chart shows that the price is currently extending below its 20 SMA, while the technical indicators are crossing their mid-lines towards the downside, supporting a break through the immediate support at 1.4850. In such case, the decline can extend towards 1.4804, last week low, in quite a slow fashion during the upcoming sessions. The upside is being now limited by sellers around 1.4920, with more awaiting around 1.4950, the level to break to revert the ongoing bearish trend.
View the live chart of the GBP/USD
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