GBP/USD - 1.4289

New strategy :

Stand aside

Although the British pound fell marginally to 1.4238 (previous intra-day low was 1.4239), lack of follow through selling and the rebound from there suggest consolidation would be seen and test of the Kijun-Sen (now at 1.4368) cannot be ruled out, however, a sustained breach above 1.4371 is needed to confirm a minor low is formed and then retracement to the Ichimoku cloud area at 1.4443-53 would follow.

Below said support would extend recent decline towards 1.4180/85, however, loss of downward momentum would prevent sharp fall below 1.4124 (50% projection of 1.5046 to 1.4249 measuring from 1.4522) and reckon 1.4090/00 would hold, bring rebound later.

As near term outlook is a bit mixed, stand aside in the meantime.