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GBP/USD is again hovering around 1.6500 level, unable to regain the upside. Anbove it, daily high of 1.6520 needs to be clear to see the pair extending upside correction to next resistance level, 1.6550 zone, 20 SMA in the daily. Once above, a retest of 1.6600 seems likely thus roof of previous range since early June should keep further rises limited. Under 1.6460, pair could approach again to daily lows of 1.6430. If cleared, next important support lies at 1.6365, long term ascendant trend line coming from past March 11th low of 1.3653. As long as the line remains intact, longer term bullish bias will prevail, while daily close under such level, will signal further losses for the pair in the term. Taking a look at this 4 hours charts, the pair has been moving a quite tight range of 90 pips since last Asian session. 20 SMA with anice bearish slope should put some downside pressure in the pair.
