GBP/USD: The pair closed lower the past week on continued downside pressure. This development leaves the pair weak and vulnerable to the downside on further decline. Support lies at the 1.3800 level where a break will turn attention to the 1.3750 level. Further down, support lies at the 1.3700 level. Below here will set the stage for more weakness towards the 1.3650 level. Conversely, resistance stands at the 1.3900 levels with a turn above here allowing more strength to build up towards the 1.3950 level. Further out, resistance resides at the 1.4000 level followed by the 1.4150 level. On the whole, GBP faces further downside pressure.

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