The British pound sterling is giving back the gains from Wednesday. The declines come as the cable rose to a new three and half year high earlier this week.
The current declines come as investors head into the weekend with the drop likely coming as a result of profit-taking.
The GBP currency has enjoyed a strong rally and got an additional boost as the UK is already preparing plans for re-opening its economy.
For the moment the pullback is likely to be met with skepticism. A continuation below Wednesday’s low of 1.4080 could, however, see the currency pair making a short-term correction.
The downside could be supported near the round number 1.4000 level.