The British pound extended that decline below the 1.7500 support zone against the US dollar on Tuesday morning. The bearish GBP/USD market dynamics very well reflect the risk sensitivity of the British pound. From a technical perspective, the price action has formed a double-bottom technical pattern on the daily chart. One can expect further losses if bulls fail to avoid the daily Ichi Moku cloud. However, the momentum oscillators are suggesting a minor consolidation ahead with a daily RSI near 30, the pair does seem to be in the oversold region.