GBP/USD: Next Target Is 1.5270

GBP/USD move to the downside has been slow, with the pair testing the support levels at 1.5460 and 1.5380 for some time before it managed to break below both and nothing so far has managed to stop its descent. The pair is currently headed for target 1.5270, which is (89)MA on the daily filter chart and is also a pretty serious level of support. However, I do think the pair is very likely to break below that support and continue descending until it reaches 1.5190 – 1.5200.  Should it break below that level, GBP/USD will continue falling towards target 1.5160. Considering the situation, I am still keeping my short positions open.