Since February 2016 GBPUSD has moved in uptrend. We can see clearly at the chart higher highs and higher lows and that confirms the trend. However this upward movement was very fast so correction had to occur. So it happened and since last Tuesday another daily candles are in red colour.
At current level demand may finish correction. Strong support anf Fibonacci retracement at 50% coincides at 1.4400 thus this scenario is primary right now. If rebound occurs the nearest target for demand will be located at 1.4510, 1.4600, 1.4770. Alternatively after break below that support target for supply is at 1.4290 (support and the Fibonacci golden retracement at 61.8%).
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