GBPUSD under the strong bearish pressure after the pair failed to break above the major resistance level 1.42000 (which has been reversing the price from the end of February), strengthened by the upper daily Bollinger Band. The downward reversal from the resistance level 1.42000 stopped the previous minor impulse wave 3. Given the strong bullish U.S. dollar sentiment seen across the FX markets today, on strong USA inflation data – GBPUSD currency pair can be expected to fall further toward the next support level 1.41000 (low of the previous corrections (iv) and 2).
