GBPUSD H4: Bearish outlook seen, further downside below 1.1480

On the H4 time frame, prices are facing bearish pressure from the resistance zone at 1.1480 which coincides with the graphical support-turned-resistance level, 78.6% Fibonacci retracement and 61.8% Fibonacci extension levels. We could see further downside below the resistance zone at 1.1480 to the next support zone at 1.0880. This support zone is in line with the 50% Fibonacci retracement. Stochastic is testing resistance at 93.45 as well with more downsides seen, supporting the bearish bias.