GBP/USD:
1.5691
Very Short-Term Trend: Downtrend
Outlook: The downtrend remains strong, but there is a small dirvergence between the hourly oscillators and the price and that can bring some small recovery today. Ideally the prices will rally toward the 100-hour moving average (currently at 1.5775) and will then resume their decline. The next downside target is seen at 1.5600, then I see no support until the 1.5400 level. On the upside, yesterday's top at 1.5845 is expected to remain intact today.
Strategy: Shorts favored at 1.5775/1.5800 area against 1.5850. Target=1.5400.