FXstreet.com (Barcelona) - After it found support at 1.4470, today's low, the GBP/USD has risen around 45 pips to 1.4516. currently the pair is trading around 1.4495/1.4505.
The Cable fell 165 pips from 1.4635, in the beginning of the American session, to find support at 1.4470, then the pair has been traded between the 1.4515/1.4480 small channel. Along today's trading session, the GBP/USD has lost 0.34% from the 1.4548 opening price.
According to Valeria Bednarik, Cable is under selling pressure: GBP/USD, recent 4 hours candle opening continues confirming selling pressure in the pair, after breaking yesterday's low of 1.4512. Momentum is poised for further sells in the pair, is price manages to move under 1.4470 zone. 1.4430/40 will be next important support, followed finally by 1.4385. Corrective movements will find support at 1.4534 1.4570 and 1.4630 zone. Longer term downside bias will depend on the pair breaking under the 1.4330 zone.