GBP/USD Price Analysis: Pound sinks further in 6-week lows, bearish

 

 

GBP/USD is trading below the main SMAs on the daily chart suggesting a bearish bias as the market is under heavy selling pressure in 6-week lows. 

 

 

 

GBP/USD is trading down below its main SMAs on the four-hour chart as the bears are nearing the 1.2100 figure. Sellers remain in full control of GBP/USD which is seen keeping printing lower prices and reach the 1.2100 and 1.1950 levels in the medium-term. Occasional bullish attempts could find resistance near 1.2200 and 1.2300 levels.