GBPUSD (1.4016):The British pound continued to extend losses with price action closing near the strong support level of 1.4000 region. The declines could potentially stall in the near term with a rebound off the support level widely expected. To the upside, the resistance level at 1.4162 could be tested and GBPUSD could maintain the range in the near term. To the downside, a breakdown below 1.4000 level could signal further declines toward the 1.3902 level of support.
