The GBP/USD pair is neutral this Monday, consolidating below the 1.4200 level, after testing 1.4130 earlier in the day. The absence of volume is quite clear in the pair so far, and despite the short term picture is bullish, only a clear acceleration above 1.4250 will confirm a sustainable recovery of the Pound, which seems unlikely for today. Short term, the 1 hour chart shows that the price is moving back and forth around its 20 SMA and the 200 EMA, both horizontal and in a tight 10 pips' range, whilst the technical indicators head slightly higher around their mid-lines. In the 4 hours chart, the price is a handful of pips above a bearish 20 SMA, while the technical indicators have turned flat after crossing their mid-lines to the upside, lacking upward momentum, and anticipating more range trading ahead.
Support levels: 1.4160 1.4130 1.4090
Resistance levels: 1.4240 1.4285 1.4330