GBP/USD Analysis (September 1)

Following the Euro decline, the Cable is also under pressure and we might see additional losses going forward.
The pair is carving out a bearish structure (cup&handle) on the daily chart with the key 1,62 handle currently tested. A clear break below this support would expose the weekly bollinger band and key support at 1,60.
A break back above 1,6460 (weekly high) is now required to alleviate the downside pressure and allow a bullish development.