GBPUSD (1.4184): The British pound managed to hold on the gains after price broke past the 1.4162 level of resistance earlier this week. Price action has been consolidating above this level in the short term and we expect to see a retest of the breached support level. If support is established at 1.4162, then we expect to see further gains in store. Alternately, if the support at 1.4162 fails, GBPUSD could be posting a correction to the downside with a retest of the lower support seen at 1.4100.
