GBP: Continued Decline Still Intact

The British pound fell against the US dollar, touching the pivotal support level published in the previous analysis, at 1.4070, to witness the current movements with a slightly positive slope, benefiting from the mentioned support.

Technically speaking, by looking at the 4-hour chart, we tend to the negativity, with the continuation of the intraday trading below 1.4140, and in general below the pivotal resistance 1.4180, accompanied by the gradual loss of the bullish momentum in stochastic.

The 1.4070 level is the first target, and breaking it will put the price under strong negative pressure, with targets that start at 1.4040 and extend to 1.4000.

The price breaching the resistance level 1.4180 will postpone the chances of a decline, and we are witnessing a limited bullish slope targeting 1.4220.

S1: 1.4070	R1: 1.4140
S2: 1.4040	R2: 1.4180
S3: 1.3990	R3: 1.4230