GBPUSD (1.4081): The British pound was seen giving up gains following the breakdown of prices below the 1.4162 level. The decline off the resistance level near 1.4162 has made price action post a consolidation into a bearish flag pattern. A close below 1.4115 could signal further declines to 1.4044 at the very least. The round number support at 1.4000 is likely to be tested in the near term however and we expect to see price posting a rebound in the short term.
