The GBP/USD pair remains under pressure, extending its recent decline and trading below Tuesday's low, extending its decline to fresh lows in the 1.5660 price zone at the time being.
In the UK, mortgage approvals surged in August to 46K, the highest since February 2014, doing little to help the Pound. Market players are likely to wait for the release of US Durable Goods Orders later today, to determinate if the current dollar rally can be extended.
In the meantime the 4 hours chart shows that the pair has been unable to advance beyond its 20 SMA, whilst the technical indicators are heading south around their mid-lines, maintaining the risk towards the downside. The pair has some intraday highs and lows around 1.5650, which means it will take a break lower to confirm a downward continuation towards 1.5590/1.5600. Below this last, the decline may extend down to 1.5550.
The main resistance is the 1.5735 level, and only a clear advance beyond it will signal additional gains, towards 1.5770 first, and 1.5810 later.
View Live Chart for the GPB/USD
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