GBPUSD short view

Looking at the chart on the daily time frame, we see that the pair is recording losses for the second day in a row and again falls below the 200-day moving average and 61.8% Fibonacci level to 1,38400. Our potential support could be a 20-day moving average and 38.2% Fibonacci level at 1.37500. If support fails, we continue down with potential testing of previous lows in the 1.35750-1.36000 zone. To continue on the bullish side, we need a positive consolidation above 1.38400 in order to expect further growth of GBPUSD towards the previous high to 1.40000.