On Tuesday, the British Pound declined by 78 pips or 0.55% against the US Dollar. The GBP/USD currency pair breached the 1.4120 level during Tuesday’s trading session.
As for the near future, the exchange rate is likely to continue to edge lower. Bearish traders may target the weekly support level at 1.4077 within this session.
However, a support line at 1.4120 could provide support for the currency exchange rate during the following trading session.
