The GBP/USD pair has been ranging since the 7th of March, with the price travelling between the levels of 1.4282 and 1.4175.
During the course of the day on Wednesday the pair oscillated, reaching the lows of 1.4175 and the highs of 1.4240. Today, the major fell from 1.4222 down to 1.4189 at the time of writing. Provided that there is significant support below that area, the pair might be forced to bounce to the upside once again. In the event that the price breaks above 1.4240, the pair could rise up to 1.4282 and 1.4347 in extension.
Conversely, in the scenario where the sellers keep exerting strong pressures and the price manages to break below 1.4177, the pair could find support at 1.4115 and 1.4073 respectively.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.