GBP/USD: technical analysis
The GBP/USD pair has a local up-trend on the four-hour chart. The price is moving in a range between the resistance level at 1.4564 and the support level at 1.4346. There’s a “Double Bottom” pattern which was formed on Monday. It's likely that the downward movement will go further to a support area between the levels 1.4408 - 1.4346. At the same time, it’s a quite possible that bulls are going to come back to the market afterwards.
As we can see on the one-hour chart, the GBP/USD pair has a local bullish trend. The price is moving in a range between the resistance level at 1.4408 and the support level at 1.4528. It's likely that the upward movement will go on to a resistance area between the levels 1.4473 - 1.4528. However, shortly after the market may to continue falling towards a support area between the levels 1.4408 - 1.4346.