GBPUSD (1.3943): The British pound had initially weakened on the day as the currency pair posted an intraday low to 1.3856 before recovering to close the day on a higher note. Price action suggests that the support level around 1.3902 will stall the declines in the near term. Overall, GBPUSD continues to trade within the triangle pattern posting a consolidation over the medium term. A strong breakout to the downside, below 1.3902 is required for GBPUSD to resume the declines towards 1.3611 – 1.3589.
:%20The%20British%20pound%20had%20initially%20weakened%20on%20the%20day%20as%20the%20currency%20pair%20posted%20an%20intraday%20low%20to%201.3856%20before%20recovering%20to%20close%20the%20day%20on%20a%20higher%20note.%20Price%20action%20suggests%20that%20the%20support%20level%20around%201.3902%20will%20stall%20the%20declines%20in%20the%20near%20term.%20Overall,%20GBPUSD%20continues%20to%20trade%20within%20the%20triangle%20pattern%20posting%20a%20consolidation%20over%20the%20medium%20term.%20A%20strong%20breakout%20to%20the%20downside,%20below%201.3902%20is%20required%20for%20GBPUSD%20to%20resume%20the%20declines%20towards%201.3611%20-%201.3589.){kind=link}