GBPUSD (1.3889): The British pound was seen closing near the resistance level of 1.3902 on Monday and a bearish close today could see price action resuming the decline toward 1.3530. On the 4-hour chart we however see that the price action has consolidated into an ascending triangle pattern. Therefore, a potential breakout above the resistance level at 1.3902 could push the GBPUSD targeting 1.4070 level which would mark the previous high that was formed in the symmetrical triangle pattern.
