GBP/USD: the technical outlook - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained the technical picture around GBP/USD.

Key Quotes:

"The 4 hours chart maintains a strong bearish tone, given that the price retreated on an early advance towards a bearish 20 SMA, whilst the technical indicators have resumed their declines within negative territory.

Nevertheless, the 1.4375 level is the 61.8% retracement of the last three weeks bullish run, becoming quite a relevant support, as a break below it should see the decline extending down to 1.4250."