GBPUSD ANALYSIS OVER H4 CHART.

The 4-hour chart shows that the GBP/USD outlook is negative as it continues to trade below the significant 100-period Exponential Moving Average (EMA). The Relative Strength Index (RSI), which is now hovering around 37.00 and indicates that the downside is the path of least resistance, supports the downward trend.

1.2681, the low of May 30, will be reached with a clear break below the psychological barrier at 1.2710 and the lower bound of the Bollinger Band. The next level of contention is further south at 1.2645, a low of May 17, and then the round number is 1.2600.

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