GBPUSD (1.3938): The British pound continued to edge higher on the day but price action was seen giving up the intraday gains to close with a doji. With price supported above 1.3902 we expect to see some consolidation taking place at this level. On the 4-hour chart, GBPUSD is yet to test the initial ascending triangle target at 1.4007 region. Any near-term corrections could see GBPUSD dipping back to 1.3905 level to establish support.
