GBP/USD Is Falling Again

GBP/USD could not break above the resistance at 1.4740 and eventually started moving to the downside again, breaking below the support at 1.4470, which coincided with (MA)89 on the daily time-frame. Currently the pair is still moving to the downside and it will likely reach the previous low at 1.4332 which is also a considerable support level. A possible breakout below that support could lead to a further drop towards 1.4200. Also, I think it is important to note that the pair could not form a new high above 1.4769 despite its move to the upside, which means that the bearish trend is likely not over yet.