GBPUSD: With GBP selling off through its minor support at 1.5079 level, further bearishness is expected. This will target the 1.5000 level where a respite may occur and turn it higher. However, if taken out, expect further downside to develop towards the 1.4900 level followed by the 1.4800 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance stands at the 1.5300 level followed by the 1.5391 level. Further out, resistance lies at the 1.5400 level and then the 1.5500 level. On the whole, GBP continues to retain its broader downside bias.
