GBP/USD: Are we heading for 1.36? (Scotiabank)

Scotiabank believes the GBP/USD may soon breakout on the downside.

"The GBP/USD struggled to extend its rally to the upper 1.42 zone in the last two weeks, and now seems inclined to test key support at 1.3983 (late-January low).

The short-term trend appears negative and a break below the upper 1.39 area would suggest a risk of declining to 1.37/1.36."