GBPUSD (1.3985): The GBPUSD closed with a doji yesterday but price action remains biased to the downside, targeting 1.3902. For the moment, the consolidation taking place at the current levels could indicate further declines on a break down below 1.3902. In the event that GBPUSD breaks below this support level, we expect to see the declines being extended down to 1.3611 – 1.3589 level of support where price action is yet to retest the support at this zone. To the upside, the gains are capped near the previous resistance level of 1.4127.
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