GBP/USD INTRADAY CHART
BIAS: There's still support at 1.4464-85 (max 1.4441) to allow gains to resume…
Resistance: 1.4522 1.4550-60 1.4590 1.4612
Support: 1.4485 1.4464 1.4441 1.4420-25
MAIN ANALYSIS: I was disappointed with the deeper pullback to 1.4485 - that's a 66.7% retracement in this position and the 76.4% is at 1.4464. (85.4% at 1.4441… but not expected.) The other concern is that price dipped below the 4-hour Cloud. Therefore, this does still need confirmation of gains but currently there are no hourly bullish reversal indications - but the 30-min chart is showing a bullish divergence. Hence, care is required now. To become more confident of the upside we need a break above 1.4550-60 at least and also 1.4590. If this is seen, then look for gains towards the 1.4663 high...
COUNTER ANALYSIS: Below 1.4440 would risk further losses back to 1.4403 at least - below will suggest an attack on the 1.4332 low…