The GBP/USD trades lower in range, with the Pound holding fairly well against the generalized dollar strength. But the upside seems quite limited from a technical perspective, as the 4 hours chart shows that the price extends below its 20 SMA, while the Momentum indicator heads south below 100 and the RSI also present a bearish slope around 40.
Past week low at 1.5315 comes as the immediate short term support, with a break below it exposing the pair to a continued decline towards the 1.5260/70 price zone, while a break below this last may see the pair down to 1.5220 during the upcoming sessions. At this point, the price needs to settle above 1.5360 to be able to reverse curse and test again the 1.5400 figure, where sellers are now aligned.
View Live Chart for GBP/USD
Past week low at 1.5315 comes as the immediate short term support, with a break below it exposing the pair to a continued decline towards the 1.5260/70 price zone, while a break below this last may see the pair down to 1.5220 during the upcoming sessions. At this point, the price needs to settle above 1.5360 to be able to reverse curse and test again the 1.5400 figure, where sellers are now aligned.
View Live Chart for GBP/USD
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