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   “¢   The pair finally broke down of its Asian session consolidation phase and retreated further from the post-BoE swing high, closer to the key 1.30 psychological mark.

   “¢   Given the overnight rejection from 100-hour SMA, a subsequent slide below 50-hour SMA now points to some fresh selling interest amid persistent Brexit uncertainties.

   “¢   Technical indicators on the 1-hourly chart have started losing positive momentum and maintained their negative bias on the 4-hourly chart, reinforcing the bearish tilt.

   “¢   However, mixed oscillators on the daily chart haven’t been supportive of any firm near-term direction and warrant some caution before placing aggressive bearish bets.

   “¢   Hence, the pair is more likely to continue attracting some fresh buying near the lower end of a short-term descending trend-channel formation on hourly charts.

GBP/USD 1-hourly chart

GBP/USD

Overview:
       Today Last Price:  1.2944
       Today Daily change %:  -0.04%
       Today Daily Open:  1.2949
Trends:
       Daily SMA20:  1.2997
       Daily SMA50:  1.2808
       Daily SMA100:  1.2892
       Daily SMA200:  1.3027
Levels:
       Previous Daily High:  1.2997
       Previous Daily Low:  1.2854
       Previous Weekly High:  1.3212
       Previous Weekly Low:  1.3043
       Previous Monthly High:  1.3214
       Previous Monthly Low:  1.2438
       Daily Fibonacci 38.2%:  1.2942
       Daily Fibonacci 61.8%:  1.2908
       Daily Pivot Point S1:  1.287
       Daily Pivot Point S2:  1.2791
       Daily Pivot Point S3:  1.2727
       Daily Pivot Point R1:  1.3012
       Daily Pivot Point R2:  1.3076
       Daily Pivot Point R3:  1.3155