Any positive data will cosolidate for BOE view about current considtion and confidently tighten .
But negative data will destroy all hope about a "liff-off".
I am very surprised why traders bid for Sterling recent months despite of weak data and very dovish stance of BOE.
However, I think Sterling gradually lost momentum, recent strong SELL-OFF demonstrates that.
In my opinion, the data most likely is negative , and we should stay SELL
I see GBPUSD moved below SMA100 for the frist time since May 05 : 4 months trading above SMA100 : this proved SMA100 is good support.
The break SMA100 is an early signal for more loss.
GBPUSD now stop at SMA200, but I think this level is not stable because it was pierced many times; I don't appreciate this level.
But I choose 1.5330 : This is a significant support.
Any break 1.5330 level will open the door for next support at 1.5200
In short, I choose the downside.
1.5500 is a good entry point if you want to place a PENDING POSITION.