GBP/USD Current price: 1.5122

Trading a handful of pips below its daily opening, the GBP/USD pair has been confined to a tight 40 pips range, maintaining the neutral stance seen during the last few sessions. There won’t be much fundamental data coming from the UK until Wednesday, when the kingdom will release the latest BOE Minutes and local employment figures, expected to give clearer clues about upcoming economic policy decisions and therefore GBP direction. From a technical point of view, the short term picture turned slightly bearish as the pair stands below its 20 SMA while indicators aim lower around their midlines. In the 4 hours chart 20 SMA capped the upside earlier on the day, while indicators slowly get into negative territory. A break below 1.5090, strong static support should anticipate more intraday slides towards 1.5033 this month low, while chances of a recovery will increase if the pair advances beyond 1.5180 resistance.

Support levels: 1.5090 1.5050 1.5030

Resistance levels: 1.5140 1.5180 1.5220 
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