The British Pound Keeps a Bearish Path

The technical outlook is unchanged, and the GBP/USD has not changed significantly, maintaining the negative stability around 1.3655.

The bearish technical structure shown on the 4-hour chart supports the possibility of continuing the decline, in addition to the pair’s continuing negative pressure from the 50-day moving average.

Therefore, we maintain our negative expectation, towards the targets of the previous analysis 1.3610, and breaking it will extend the pair’s losses so that we will be waiting for 1.3575 initially.

Remember that the activation of the above-suggested scenario depends on trading stability below the pivotal resistance level around 1.3720 and its breach leads the pair to a temporary bullish path targeting 1.3770.

S1: 1.3630	R1: 1.3720
S2: 1.3575	R2: 1.3770
S3: 1.3480	R3: 1.3830