On a 4-hour chart the GBP/USD rolls back after it could not break through the support level of 1.5500.
The viewpoint remains to be bearish, as the pair has earlier formed the combination of candlesticks Bearish Engulfing that indicates the downside movement, confirmed further.
This combination of candlestick developed after the pair could not break out the resistance level near 1.6085-1.6096, which means that the bulls did not manage to solidify here and the bears started to increase their presence.
A breakthrough of the 1.5841 level confirms this point of view.
If the support level of 1.5500 is broken down then we forecast the decrease with the target to 1.5300.
It is worth mentioning that in case the resistance level of 1.5900 is broken through then short positions should be closed, as it will lead to rise to 1.6096.
