GBPUSD extended its short term uptrend from 1.3458 to as high as 1.3942. As long as 1.3741 support holds, the uptrend could be expected to continue and next target would be at 1.4200 area. Near term resistance is at 1.3942, a breakout of this level could signal resumption of the uptrend. On the downside, a breakdown below 1.3741 support will suggest that the upside move had completed at 1.3942 already, then deeper decline to 1.3620 area could be seen. Below this level could trigger further downside movement towards 1.3458.
