GBPUSD (1.3981): The British pound was seen posting a modest recovery, but price action remains biased to the downside below the resistance level of 1.4000. If this resistance level holds, GBPUSD is expected to maintain the range within 1.4000 and 1.3900 region. In the near term, there is a potential for GBPUSD to retest the breakout from the rising trend line near 1.4070. Further gains could push the GBPUSD toward the resistance zone of 1.4162. To the downside, we expect the support level at 1.3900 likely to hold the declines for now
