GBPUSD (1.4134): The British pound managed to push higher with price breaking out from the upside. The breakout from the resistance level at 1.4037 could indicate further upside gains in the currency pair. Watch for a short term correction towards 1.4037 for support to be established. This could potentially see further gains targeting the previous highs around 1.4279. To the downside, the declines will be limited to the support level but a break down below this level could keep GBPUSD range bound in the short term.
:%20The%20British%20pound%20managed%20to%20push%20higher%20with%20price%20breaking%20out%20from%20the%20upside.%20The%20breakout%20from%20the%20resistance%20level%20at%201.4037%20could%20indicate%20further%20upside%20gains%20in%20the%20currency%20pair.%20Watch%20for%20a%20short%20term%20correction%20towards%201.4037%20for%20support%20to%20be%20established.%20This%20could%20potentially%20see%20further%20gains%20targeting%20the%20previous%20highs%20around%201.4279.%20To%20the%20downside,%20the%20declines%20will%20be%20limited%20to%20the%20support%20level%20but%20a%20break%20down%20below%20this%20level%20could%20keep%20GBPUSD%20range%20bound%20in%20the%20short%20term.){kind=link}