GBP/USD Price Analysis: Bears on the verge of a fresh wave to the downside

GBP/USD bears are seeking an opportunity from 4-hour resistance structure.
A downside extension targets a 1.3725 area and beyond.
As per the prior analysis, GBP/USD bears piling in at critical daily resistance, the bears remain on top of things and target a downside daily extension.

Prior analysis

The bears are going to be lining up for prospects of a downside continuation following the test and failure of the 61.8% Fibonacci retracement level of 1.4000 which may be a historic resistance level.

With that being said the bear are going to be prudent to attend for an opportunity of both the monthly dynamic and horizontal support below 1.3940:

A monthly close of 1.3780 or lower are going to be highly bearish and can have put a triple monthly top in place:


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