Source: PaxForex Premium Analytics Portal, Technical Insight

Downside risks remain, as long as price remains under our strong resistance at 1.4100

GBP/USD,D1

Pivot: 1.3973

Analysis:

While the price is below 1.4240, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.3973
• Take Profit 1: 1.3800
• Take Profit 2: 1.3670

Alternative scenario:

If the level 1.4240 is broken-out, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.4240
• Take Profit 1: 1.4380
• Take Profit 2: 1.4500

Comment:

RSI shows the development of a downtrend in the medium term.

Key levels: