The Pound maintains its negative tone, having extended its decline against the greenback down to 1.5213 this Friday. The former bounce is now finding short term selling interest around 1.5250, a strong static resistance level.
The negative tone of the pair may persist until next week BOE's economic policy meeting, when some clues on whether the Central Bank is still willing to raise rates next year or not, will be unveiled. In the meantime, the negative sentiment towards the Pound keeps the pair under selling pressure, and it will take a huge disappointment from the NFP report, to see it correcting higher this Friday.
Technically, the 4 hours chart shows that the 20 SMA is now heading lower around 1.5290, which means a firmer tone in the pair will be seen only if the price manages to extend beyond it, and the rally can then extend up to 1.5340, where the pair presents several intraday lows.
Below 1.5210 on the other hand the pair can extend its decline down to 1.5160 in the short term, whilst further slides below this last expose the 1.5100 level for the upcoming session.
View the live chart of the GBP/USD
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