GBPUSD failed to hold above support at 1.5559 and lies at 1.5500 currently. 1.550 being a round figure, may hold as a potential support for the pair.
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Focusing on H4 chart, candles have closed below Fibonacci extension 100.0% and seeks to drop to the next exhaustion price at Fibonacci extension 127.2% at 1.5472 if 1.5500 does not hold as a support.
Candles failed to break back above into the trend channel after being resisted at 1.5526.
Trend Direction | S3 | S2 | S1 | R1 | R2 | R3 | Entry | Stop Loss | Exit |
| Bearish | 1.5438 | 1.5472 | 1.5500 | 1.5548 | 1.5604 | 1.5655 |