Bear looking to extend rejection at night from neighborhood SMA 1.30 hour / 100 hours

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

• Given the immediate 100-hour SMA rejection, a new slide under the 50-hour SMA points to a renewed interest in the sale amid persisting Brexit uncertainties.

• The technical indicators on the one-hour chart began to lose momentum and maintained their negative bias on the four-hour chart, further strengthening the bearish trend.

• However, the mixed oscillators on the daily chart have not supported any firm direction in the short term and warrant some caution before betting in a bearish and aggressive manner.

• Therefore, the pair is more likely to continue to attract new purchases near the bottom of a short-term decreasing trend channel formation on hourly charts.

Chart 1 hour GBP / USD