In a day chart of the GBP/USD currency pair, the candle “Doji” has formed and signals about a decline. This candle formed after the currency pair had not managed to break out the resistance level of 1.4785, which meant that the bears became active around this mark. Moreover, Fibonacci correction level of 38.2 is placed close to that level. It is expected that the pair can move downwards to the area of 1.4450, where the main support level is.
In 4-hour chart, the formation of bearish combination of candles “Falling Three Methods” is going on. However, it should be emphasized that if the resistance level of 1.4785 is broken out, short positions should be closed because this viewpoint will be incorrect.