GBPUSD: The pair extended its weakness on Tuesday leaving risk of more weakness on the cards. This is coming on the back of a break of its key support at the 1.4079 level. On the downside, support lies at the 1.3900 level where a break will turn attention to the 1.3850 level. Further down, support lies at the 1.3800 level. Below here will set the stage for more weakness towards the 1.3750 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance stands at the 1.4050 levels with a turn above here allowing more strength to build up towards the 1.4100 level. Further out, resistance resides at the 1.4150 level followed by the 1.4200 level. On the whole, GBPUSD looks to weaken further on continued bearishness.
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