Slow Day For GBP/USD

Today is a holiday in the UK and consequently GBP/USD has been quite slow to move. However, it still managed to move to the downside again and will likely soon reach the support at 1.5350 or perhaps the previous low at 1.5330. Regardless of the level it reaches the pair will either form a double bottom and move to the upside again or it will break below the support and continue on its way down. Should it break below the support we can probably expect it to continue falling at least until it reaches the next support at 1.5130 which is visible on the weekly filter chart.