GBP/USD: Extends Weakness On Corrective Pullback

GBP/USD: Having GBP/USD following through higher on the back of its Tuesday losses during Wednesday trading session today, further weakness is likely. On the downside, support lies at the 1.4400 level where a break will turn attention to the 1.4350 level. Further down, support lies at the 1.4300 level. Below here will set the stage for more weakness towards the 1.4250 level. Conversely, resistance stands at the 1.4500 levels with a turn above here allowing more strength to build up towards the 1.4550 level. Further out, resistance resides at the 1.4600 level followed by the 1.4650 level. On the whole, GBP/USD remains biased to the downside on correction.

GBP/USD Daily Chart

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