- GBP/USD bears are on the lookout, but the bulls have not thrown in the towel.
- The key support structure is still intact so far.
The GBP/USD threatens a move to the downside and the longs that have built up over the past week. The pair has come under pressure over the course of the start of the week and has made a low at 1.1459. The charts below show the bias in the hourly time frame, respecting the key structures:
GBP/USD H1 Charts
Price is supported in a demand zone and there is prospect of a move to test resistance. However, if it fails, a continuation to the downside could follow in the coming days. If the price breaks the 1.1430 signal, it would be a major event:
In doing so, 1.1270 will be vulnerable, which guards the start of the move from the 21st Oct lows near 1.1100/1.1050.
Source: Fx Street
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