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GBPUSD Slips But Upside Remains Intact

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The British pound sterling continues to post steady gains. Price action was seen trading a bit weaker after testing highs of 1.3951 on Tuesday.

But a quick recovery from the intraday lows is keeping the upside bias intact.

Further gains could likely see the cable testing the 1.4000 round number level in the near term.

To the downside, the current intraday lows near 1.3869 and the highs from 10th February at 1.3866 form the initial support.

Only a strong close below this level will open the downside toward the 12th Feb lows at 1.3775.

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