GBP/USD Technical Analysis: Bears looking to extend overnight rejection from 1.30 neighborhood/100-hour SMA

   •  The pair finally broke down of its Asian session consolidation phase and retreated further from the post-BoE swing high, closer to the key 1.30 psychological mark.

   •  Given the overnight rejection from 100-hour SMA, a subsequent slide below 50-hour SMA now points to some fresh selling interest amid persistent Brexit uncertainties.

   •  Technical indicators on the 1-hourly chart have started losing positive momentum and maintained their negative bias on the 4-hourly chart, reinforcing the bearish tilt.

   •  However, mixed oscillators on the daily chart haven’t been supportive of any firm near-term direction and warrant some caution before placing aggressive bearish bets.

   •  Hence, the pair is more likely to continue attracting some fresh buying near the lower end of a short-term descending trend-channel formation on hourly charts.

GBP/USD 1-hourly chart