FXstreet.com (Barcelona) - After the Pound reacted down from the channel top at 1.4230, yesterday's high and falls from the 1.4115 in the early today's US American session, the GBP/USD has found support at 1.3962 to be rejected up above the 1.4000 level.
Currently, the Cable is trading around the 1.4020/30 band, fighting the 1.4040 resistance. If the pair could break this level and go above the 1.4040/55 congested zone, next resistance will be at 1.4070, downtrend resistance line. Above here, the 1.4115 will be exposed.
According to Valeria Bednarik, FXstreet.com Collaborator, cable is showing signs of exhaustion: The pair was unable to hold yesterday's gains and just break under the 1.4000 zone 200 EMA in the hourly, still not confirming further falls. While the 20 SMA is pointing for more losses, CCI is showing signs of some exhaustion at this level. Clear break under 1.3960 could confirm further falls on the pair. Volume also remains low.