GBPUSD intra-day bias remains on the downside as the market is capped by the 200-day moving average. The pair made several attempts to rise above the Ichimoku cloud last week but failed and fell back below the cloud on October 22. RSI is below 50 in bearish territory.
If resistance holds at the 200-day moving average around 1.5328, there is scope for prices to test immediate support at 1.5246 which is the 50% Fibonacci retracement of the upleg from 1.4564 to 1.5929. Below this a further fall would lead towards the September 30 low of 1.5106.
In the bigger picture, GBPUSD has been making lower highs and lower lows since the peak of 1.5929 on June 18. Price action remains in a consolidation pattern which is a correction of the downtrend from 1.7190 to 1.4564.