The GBP/USD pair has been declining aggressively since the 6th of July 2015, facing strong downward pressures that started from 1.5627 down to 1.5331.
The price is testing at the moment 1.5402, signalling a possible break above this level. Provided that the buyers gain sufficient power, they could push the price up to 1.5512 and 1.5627 respectively.
In the opposite scenario, where bears resume their selling activity and the price breaks below the 1.5331 zone, the currency pair could oscillate lower to 1.5241
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.