GBPUSD Holds Steady Above 1.41

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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.

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