GBPUSD Going for 1.8500

Cable started once again to move lower, although we did expect it to stay around current level for a while longer if not even retrace. 1 hour chart displaying the last few days show the pair trading inside the 1.8800 and 1.85 making lower lows and forming a divergenge with the RSI 14(lower panel). The RSI also signaled a short opportunity when it bounced from the 50 line for those who were early risers this morning, but for the rest of us it is still pointing lower. Cable started once again to move lower, although we did expect it to stay around current level for a while longer if not even retrace. 1 hour chart displaying the last few days show the pair trading inside the 1.8800 and 1.85 making lower lows and forming a divergenge with the RSI 14(lower panel). The RSI also signaled a short opportunity when it bounced from the 50 line for those who were early risers this morning, but for the rest of us it is still pointing lower. Making a new low under the 1.8500 level will certainly reinforce the bearish bias and trigger some stops of those thinking a reversal was in place(me included).

[NP][/NP]