GBPUSD’s downside movement from 1.4376 extended to as low as 1.3918. Near term resistance is at 1.4030. As long as this level holds, the downside movement could be expected to continue and next target would be at 1.3800 area. On the upside, a break above 1.4030 resistance would indicate that the downside move had completed at 1.3918 already, then the pair would find next resistance level at 1.4150.
