GBPUSD kept falling in the intraday levels, breaching the support of 1.3175, which represents the ratio 50% of Fibonacci retracement levels for an ascending wave in the short term (from 1.4514 to 1.383%), with ongoing negative pressure from the SMA50, and an influx of negative signals from relative power indicators.

Therefore we expect more losses to come for the stock, especially if it trespassed the support of 1.4094, which represents the ratio 61.8% of the same retracement levels, targeting thereafter the support of 1.3980, representing the ratio 76.8%.

Trend Bearish