GBPUSD currency pair recently reversed down from the combined resistance zone lying between the major long-term resistance level 1.4217 (which stopped the previous sharp uptrend at the end of February – as can be
seen from the daily GBPUSD chart below) and the upper daily Bollinger Band. Given the strongly bullish U.S dollar sentiment seen across the FX markets today – GBPUSD currency pair can
be expected to fall further toward the next round support level 1.4000 (low of the previous short-term correction
2).