GBP/USD

On Wednesday, the British Pound fell by 77 pips or 0.54% against the US Dollar. A breakout occurred through the lower boundary of an ascending channel pattern during Wednesday's trading session.

Given that a breakout has occurred, bearish traders are likely to continue to drive the price lower during the following trading session. The potential target for bears will be near the 1.4060 level.

However, the weekly support level at the 1.4081 area could provide support for the GBP/USD currency exchange rate within the following trading session.

GBPUSD

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This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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