GBPUSD (1.3953): The British pound closed bearish yesterday despite intraday attempts to push higher. However, with price still trading above the 1.3902 level of support, we expect to see some upside bounce in price. A break down below 1.3902 is required to confirm the decline towards 1.3530. On the 4-hour chart, GBPUSD remains trading within the triangle pattern. We expect price to touch down to the initial support at 1.3902. A break down below this level could validate the downside breakout in the triangle pattern as price action could be seen targeting 1.3530 level.
: The British pound closed bearish yesterday despite intraday attempts to push higher. However, with price still trading above the 1.3902 level of support, we expect to see some upside bounce in price. A break down below 1.3902 is required to confirm the decline towards 1.3530. On the 4-hour chart, GBPUSD remains trading within the triangle pattern. We expect price to touch down to the initial support at 1.3902. A break down below this level could validate the downside breakout in the triangle pattern as price action could be seen targeting 1.3530 level.){kind=link}