The GBPUSD currency pair is giving back the gains made from the previous day with prices turning lower.
On the intraday charts, we see prices trading currently below the 1.3821 swing low. A confirmed daily close below this level could potentially see price action testing the previous untested support level near 1.3790.
As long as this support level holds, we could expect to see further upside. But for price action to continue higher, we would need to see the GBPUSD rising past the current highs above 1.3850.
However, if the GBPUSD loses the 1.3759 level of support, then we could expect further declines in the near term.
This would also potentially open the way for the currency pair to slide towards the 1.3500 level of support.
