GBPUSD (1.4202): The British pound is seen extending the declines for a second day as price action is currently seen trading below the minor support level of 1.4232 level. The break down below this level signals a move toward the major support level at 1.4162. A retest of this support level could see prices posting a rebound. To the downside, further declines could be expected in the event that GBPUSD fails to hold the support. The next lower support is seen at 1.4013.
