STERLING FURTHER BEARISH BELOW 1.4087 LEVEL
The British pound continues to unwind against the U.S dollar, with downside selling pressures building and price-action now trading well below the 1.4087 key support level. The U.S dollar index has now moved above the 90.00 level, further boosting the intraday sentiment surrounding the greenback. Moving into the U.S session traders now look towards the release of inflation, income and jobs data from the United States economy.
The GBPUSD pair remains intraday bearish whilst trading below the 1.4087 level, further declines towards the 1.4000 and 1.3959 levels seems possible.
If the GBPUSD pair moves above the 1.4087 level for a sustained basis, a correction towards the 1.4146 and 1.4200 levels may occur.