Previous GBPUSD analysis gave almost 300 pips profit. I wrote: “If price stays above 1.4500 first target for falls will be at 1.4400. Next goal for bears will be 1.4200”. First indicated level was reached very fast and second level could be tested today. Current chart pattern supports declines.
After downward movement which lasted since December 11 to January 21 rebound occurred. Corrections which occurred after this period retraced 50% of previous declines. Price returned to main trend and yesterday support at 1.4380 was broken below. Today GBPUSD continues downward movement, nearest supports are located at 1.4200, 1.4080. When that last level will be broken (January 2016 low) next important levels are located at: 1.3720, 1.3500 (2009 historical low).
Time-frame H4
