GBP/USD is currently trading with a bearish bias. Following the NFP outcome, the pair crossed below the wedge and is currently trading below it. We expect further downward movements probably up to 1.4591. This downward movement is highly anticipated since GBP/HKD a positively correlated pair is already trading below a very significant key support level 11.71, we thus expect the same downward movement to continue in Pound.
Remain short in GBP/USD as long as GBP/HKD trades below 11.71. Sell positions in GBP/USD should have stop loss at above 1.5123