The British pound has moved back towards the 1.4000 support area against the U.S dollar, with the pair unwinding close to two-hundred and fifty points from Tuesday’s weekly trading-high. The decline in the GBPUSD pair has largely been driven by U.S dollar demand, with sterling sellers now looking to target the 1.3960 support area once below the 1.4000 handle. Moving into the European session, trading volumes may be subdued as the United Kingdom observes the Good Friday holiday.
The GBPUSD pair is further bearish once clearly below the 1.4000 level, key support is then found at the 1.3960 and 1.3910 levels.
Key intraday resistance for the GBPUSD pair is currently located at the 1.4031, 1.4087 and 1.4146 levels.
