The GBP/USD pair has been moving lower since the 12th of February 2016, with the bears leading the price from as high as 1.4570 to as low as 1.4237.
During the course of the day on Tuesday, the pair tried to rally up to 1.4515, but found enough resistance to force the pair lower to 1.4277. Today, after consolidating for a while, the pair tried to test the 1.4337 level twice following upbeat economic data. In the event that the price is forced to correct lower, thus breaking below 1.4215, the pair could find support at 1.4150 and 1.4044 respectively.
Alternatively, in the scenario where the bulls manage to exert enough pressures to gain momentum and the price breaks above 1.4364, the pair could reach 1.4443 and 1.4515 in extension.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.