GBP/USD still looking bearish

FXstreet.com (Buenos Aires) - The GBP/USD has suffered a setback this Thursday, extending the retracement from 1.6602 all the way down to 1.6409. Caped below 1.6450 ever since reaching mentioned low, the pair accelerates lower ahead of Asian opening, trading around 1.6420 figure, and with short term charts maintaining a negative tone, after UK Manufacturing PMI missed expectations early European session.

Short term bearish

Having lost near 200 pips from its daily high, price is now unable to recover above 1.6450 price zone, immediate short term resistance according to Valeria Bednarik, FXstreet.com chief analyst. According t her view, and considering both 1 and 4 hours chart present a clear bearish technical tone, the downside remains exposed towards 1.6370 next short term support, while once below, 1.6335 comes next.