GBPUSD - bearish move to gather pace below 1.4550

29 Apr 2016

Resistance - 1.4617, 1.4636, 1.4670

Support - 1.4550-1.4533, 1.4473, 1.4436

• Pair's rejection at larger falling trend line along with bearish price-RSI divergence on intraday charts led to a drop as anticipated earlier today.
  

• Bearish pressure may gather pace if - Spot breaks below 1.4533 (strong support this week) or sees an hourly close below 1.4550 (hourly rising trend line support).
  

• On the other hand, a rebound from 1.4550 if followed by a rise above 1.4617 would shift risk in favor of a rise to 1.4670 (larger falling trend line hurdle).