GBP/USD breaks major support 1.4640, decline till 1.4300 is possible

• RES 4: 1.4920 (Mar 27^th high)
  
  
  
• RES 3: 1.4850 (200 day HMA)
  
  
  
•  RES 2: 1.4796 (55 day HMA)
  
  
  
•  RES 1: 1.4732 (20 day HMA)

    PRICE: 1.47138@ 6:21 GMT 

• SUP 1: 1.45650
  
  
  
• SUP 2: 1.44431 (138.2% retracement of 1.46430 and 1.5165)
  
  
  
• SUP 3:1.4306 (161.8% retracement of 1.46340 and 1.5165)
  
  
  
• SUP 4: 1.4225 (May 2010 low)

Intraday trend -Bearish

GBP/USD has broken short term support 1.46340 and is trading well below that level . Short term trend is bearish as long as resistance 1.4735 holds.

In one hour chart MACD has formed bearish divergence short bounce back till 1.4660 cannot be ruled out

It is good to sell on rallies around 1.4661 for the target of 1.4310  with stop around 1.4735.