FXstreet.com (Barcelona) - Cable has fallen more than 200 pips in the last three hours from the 1.4580 to the 1.4370 support, today's minimum.
Today, the GBP/USD has been moving in a range from 1.4470 to 1.4510, but after the December US S&P/Case-Shiller Home Price data the pair has broken the range to fall close to 1.4450. Currently, the Cable is trading close to the 1.4400 level.
According to Mataf.net, the GBP/USD is in a consolidation after thelas bullish movement: The volatility is low. Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. The consolidation should continue. The price should continue to move in Bollinger bands. If the support breaks then the target will be 1,4350 (117 pips).