GBPUSD (1.4000): The British pound managed to close on a bullish note on Friday marking a two day gain. However with prices staying put near the highs above 1.3902, we expect to see some more consolidation taking place. To the downside, a break down below 1.3902 could potentially signal a move towards 1.353 level of support which could be tested once again. The gains to the upside will be limited with the next major resistance level at 1.4127 likely to cap the gains. With GBPUSD trading within the triangle pattern the breakout from this pattern will signal further direction in the currency pair.
: The British pound managed to close on a bullish note on Friday marking a two day gain. However with prices staying put near the highs above 1.3902, we expect to see some more consolidation taking place. To the downside, a break down below 1.3902 could potentially signal a move towards 1.353 level of support which could be tested once again. The gains to the upside will be limited with the next major resistance level at 1.4127 likely to cap the gains. With GBPUSD trading within the triangle pattern the breakout from this pattern will signal further direction in the currency pair.){kind=link}