The GBPUSD remains under pressure against the greenback, with a spike up to 1.5500 and being quickly rejected by strong selling interests. The pair fell down to 1.5457 afterwards, while being choppy, trading in quite a limited range but maintaining the bearish intend triggered by the Bank of England mid last week.
The 4 hours chart shows that the 20 SMA heads south around 1.5530, providing a strong intraday resistance, the price should advance again beyond 1.5500. In the same chart, the technical indicators maintain their bearish slopes, heading lower near oversold territory, with no signs the pair may change course in the short term. The pair set a low at 1.5423 last Friday, which means that renewed selling interest below 1.5460 should lead to a steady decline towards that level, while additional declines below 1.5410 expose the 1.5360 for the upcoming sessions. Being and remaining in channel is more expectable as breaking lower channel’s support needs really strong sell pulse.