GBP/USD Analysis (September 15)

With a new fresh low near 1,57 (breaking below july low) the Cable looks very bearish and the decline will probably accelerate over the coming weeks.
There is an interesting potential to the downside with a next target at 1,5350 support from the end of december 2010.
By the meantime, we might see some kind of corrective move towards the 1,60 level but a break below 1,57 would accelerate decline very quickly.
Given the technical outlook on the intraday charts, it is not recommended to sell at current price level.