The GBP/USD pair is down to struggle with its recent lows around the 1.3000 figure, retreating from a daily high  of 1.3064. Having  bounced modestly from 1.2999, the Pound has been under pressure ever since last Thursday's BOE meeting, when the Central Bank maintained its economic policy unchanged, but left doors open for further easing if required. There were no macroeconomic releases in the UK today, and the US will release some housing figures later on today.

Technically, the pair is poised to extend its decline sub-1.3000, according to the 4 hours chart, as indicators have turned lower within oversold readings, whilst the 20 SMA maintains a sharp bearish slope far above the current level, now standing around 1.3100. Recoveries up to this last will be seen as corrective. Below 1.3000 on the other hand, the immediate short term support comes at 1.2970, followed by the 1.2930 price zone.