The British Pound continues its slow but steady decline, down against its American rival to a fresh 3-month low of 1.5263, where it stands.
The bearish trend remains firm in place, as the 4 hours chart shows that the price extended further below its 20 SMA, whilst the Momentum indicator heads lower below the 100 level. In the same chart, the RSI heads slightly lower around 28 all of which supports additional declines. The pair has a strong static support in the 1.5250 region, and some buying interest may surge on a first attempt to break below it. Nevertheless, sellers are waiting on spikes with 1.5340 as the probable level to watch then.
A break below 1.5250 on the other hand should see stops getting triggered and the decline extending towards the 1.5200 level.
View the live chart of the GBP/USD
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