We continue to look for more downside pressure here. However, we expect a minor rally close to resistance in the 141.44 - 141.54 area before the pair declines to minor resistance at 140.09. If it breaks above this level, it will confirm renewed downside pressure to the ideal target near 138.35
R3: 141.82
R2: 141.44
R1: 141.10
Pivot: 140.55
S1: 140.25
S2: 140.10
S3: 139.85
Trading recommendation:
We will re-buy GBP near 138.35
