GBP/USD: bulls are ready to deliver a local correction
There’s a support at 1.4089, which has stopped bears for a while. So, the market is likely going to get a resistance at 1.4227 – 1.4248. If sellers push off from this area, there’ll be an opportunity to see a decline towards a support at 1.4039 – 1.4003.
We’ve got a local flat in progress between the nearest support at 1.4089 and the 34 Moving Average. Therefore, the market is likely going to get a resistance at 1.4227 – 1.4248 during the day. However, this possible movement will be just a correction, so bears can well bring a new low afterwards.