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GBP/USD Slides Further; Monitoring Support

GBP/USD has been bullish this week, until Thursday when it failed to breach the 2014 high at 1.6820, and the BoE monetary policy did not shake things up.

It retreated further during the 4/11, Friday session and is now tagging 1.6715, a previous resistance pivot that might turn into support.

(gbpusd 4h, 4/11)

I believe there is still further downside risk in the near-term. The next resistance pivots to look for support are 1.6683 and 1.6663. If the Stochastic dips below 20 and starts to cross back up, and the RSI bounces off 40, then we should have more confidence of support working out.