GBPUSD: Vulnerable, Broader Bias Remains Lower

GBPUSD: Having closed lower the past week, there is risk of further downside. Support lies at the 1.4800 level where a violation will pave the way for a run at the 1.4700 level. We expect this level to hold if tested and then turn the pair higher. Further down, support comes in at the 1.4600 level. Its weekly RSI is bearish and pointing higher supporting this view. On the upside, resistance stands at the 1.5198 level followed by the 1.5291 level. Further out, resistance lies at the 1.5350 level and then the 1.5400 level. On the whole, GBP continues to retain its broader downside bias.