This week is a bulls’ nightmare. Since Monday we observe fall at GBP/USD, despite the recommendations of British Prime Minister David Cameron. He will be urging to stay in the E.U.

Support at area 1.4080 was broken and now there is an open road to the next support at 1.3720. Downtrend is so strong that even test of 1.3500 is likely (which is low from 2009). Emotions are currently ruling on the market, so any positive information from the U.K. can cause equally dynamic rebound. Nearest resistance is at 1.4080.

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Time-frame H4:

GBPUSD-H4

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