The GBP/USD pair opened the week with a soft tone, gapping lower before recovering some ground ahead of the London opening. Nevertheless, the pair is mute around Friday's close, unmotivated by the lack of macroeconomic news coming from the UK.
The pair has lost its upward strength by the end of last week, after flirting with February's monthly high in the 1.4670 region, and despite the price remains near its highs, the intraday technical readings show an increasing downward potential, as the 20 SMA has lost its bullish slope, and now stands flat around the mentioned low, whilst the technical indicators have turned south within positive territory, slowly approaching towards their mid-lines.
Given broad dollar's weakness, however, the downside remains well limited in the pair. If the price manages to accelerate above the daily high set at 1.4636, the pair can advance up to the mentioned 1.4670, en route to the 1.4700/20 price zone. Below 1.4550 on the other hand, the pair can go down to 1.4500.
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