GBPUSD (1.3978): The British pound was seen posting declines after last Friday’s retest to 1.4121. The declines could be seen extending towards 1.3902 level in the near term. On the 4-hour chart, the lower high being formed near the resistance suggests that the downside momentum could push GBPUSD towards the mentioned lower support. Any short-term bounce to the upside could be limited to the previous minor resistance level of 1.4035. A close above this level could suggest price moving back to retest the major resistance area of 1.4182 – 1.4127.
: The British pound was seen posting declines after last Friday's retest to 1.4121. The declines could be seen extending towards 1.3902 level in the near term. On the 4-hour chart, the lower high being formed near the resistance suggests that the downside momentum could push GBPUSD towards the mentioned lower support. Any short-term bounce to the upside could be limited to the previous minor resistance level of 1.4035. A close above this level could suggest price moving back to retest the major resistance area of 1.4182 - 1.4127.){kind=link}