GBPUSD - bearish move to gather pace below 1.4550

FX:GBPUSD   British Pound / U.S. Dollar
Resistance - 1.4617, 1.4636, 1.4670

Support - 1.4550-1.4533, 1.4473, 1.4436

  • Pair's rejection at larger falling trend line along with bearish price-RSI divergence on intraday charts led to a drop as anticipated earlier today.
  • Bearish pressure may gather pace if - Spot breaks below 1.4533 (strong support this week) or sees an hourly close below 1.4550 (hourly rising trend line support).
  • On the other hand, a rebound from 1.4550 if followed by a rise above 1.4617 would shift risk in favor of a rise to 1.4670 (larger falling trend line hurdle).
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