Pound holds above the 1.5600 mark against the greenback, despite markets are in risk aversion mode: US indexes are strongly down and falling with dollar advancing to fresh weekly highs against the Euro, and most of its rivals. The GBP/USD has pulled back from a daily high set at 1.5784, from where the pair retraced several times over the past few days, and the 4 hours chart shows the pair is losing recent upward potential: indicators head south approaching their midlines, while current candle opened below 20 SMA. Still unable to confirm a slide, price has been finding support in a short term ascendant trend line currently around 1.5590, also static support level. A break below may see the pair extending its slide near 1.5550 over the upcoming hours, where the pair will likely consolidate before attempting a continuation towards 1.5520 zone.
In the short term, immediate resistance comes at 1.5630/40 price zone, and seems unlikely and advance beyond it, yet if it does, pair will try to retest mentioned 1.5680 highs.View Live Chart for GBP/USD