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   “¢   The pair, on several occasions over the past two weeks, had failed to sustain/build on its momentum beyond 200-hour SMA, indicating persistent selling bias at higher levels.

   “¢   Moreover, technical indicators on 4-hourly/daily charts have retained their bearish bias and thus, increase prospects for an extension of the near-term downward trajectory.

   “¢   However, oscillators on the 1-hourly chart are pointing to slightly oversold conditions and warrant some consolidation before the next leg of a bearish slide to YTD lows.
GBP/USD 1-hourly chart

GBP/USD

Overview:
Today Last Price:  1.2757
Today Daily change:  -56  pips
Today Daily change %:  -0.437%
Today Daily Open:  1.2813
Trends:
Previous Daily SMA20:  1.2905
Previous Daily SMA50:  1.3
Previous Daily SMA100:  1.2995
Previous Daily SMA200:  1.3341
Levels:
Previous Daily High:  1.2866
Previous Daily Low:  1.2796
Previous Weekly High:  1.2928
Previous Weekly Low:  1.2764
Previous Monthly High:  1.326
Previous Monthly Low:  1.2696
Previous Daily Fibonacci 38.2%:  1.2822
Previous Daily Fibonacci 61.8%:  1.2839
Previous Daily Pivot Point S1:  1.2784
Previous Daily Pivot Point S2:  1.2755
Previous Daily Pivot Point S3:  1.2714
Previous Daily Pivot Point R1:  1.2854
Previous Daily Pivot Point R2:  1.2894
Previous Daily Pivot Point R3:  1.2923