The GBP/USD pair has been trending downwards, since the 19th of November 2015, with the bears leading the price from as high as 1.5335 to as low as 1.5225.
During the opening of the early US session on Monday, the currency pair advanced up to 1.5189 to finish lower at 1.5125.
In the event that the bulls gain enough momentum to break above 1.5205, the pair could escalate up to 1.5229 and 1.5253 in extension.
Conversely, in the scenario where the bears keep exerting strong pressures and force the price to break below 1.5125, the pair could decelerate down to 1.5094 and 1.5043 in extension.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.