The GBP/USD pair eases at the beginning of this Wednesday, although the pair is managing to hold above the 1.4700 level, posting a shallow bounce after its first attempt to break below it. There have been no news in the UK, and Europe will gather all of the attention today.
In the meantime, the 4 hours chart shows that the price is still holding above its 20 SMA, currently in the 1.4660 region, whilst the technical indicators are heading lower, but remain above their mid-lines. Should the price accelerate below the mentioned daily low, it will likely reach the mentioned 1.4660 region, whilst if this last gives up, the slide can extend down to 1.4620 later on in the day. Some follow through above 1.4740 on the other hand, should lead to an advance up to the 1.4800 area, with a break above it supporting a rally up to 1.4850 for the upcoming sessions.
View live chart of the GBP/USD
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