The GBP/USD trades lower this Wednesday, lead by risk sentiment that favors dollar across the board. The pair continues struggling around the 4 hours EMA, now below it, and even extending below a bullish 20 SMA, with indicators heading lower in positive territory. While below 1.5620 immediate resistance, chances are of further slides in the pair, with a key support at 1.5550, yesterdays’ low and strong static support level: an acceleration below that mark should put sellers back in control and send price near the 1.5490/1.5510 area today. Once below this last, next bearish target comes at the 1.4440/50 price zone.
Above 1.5620, the downside is denied and the pair will likely retest the 1.5660/70 price zone. View Live Chart for GBP/USD