GBP/USD outlook negative despite oversold conditions with the close at the low of the week only encouraging for bears. A break below 1.4500 keeps those bears in control to target 1.4475 & 1.4429/25 - levels not seen for over 5.5 years. If we continue lower look for 1.4386/82 then quite good support at 1.4355/45. This could hold the downside of tested.
This is a chance we can hold 1.4505/00 and target 1.4547/50. Above we look for resistance at 1.4575/79, which could hold a rally. However, further gains target a selling opportunity at 1.4615/20. Shorts need stops above 1.4645. Just be aware that further gains meet a selling opportunity at 1.4675/80. Stops above 1.4700.