GBPUSD short view

Looking at the chart on the four-hour time frame, we see that after arriving in the zone around 1.40000, the pair makes a pullback with Fibonacci 61.8% level, falling further below 50.0% to find support at 38.2% level at 1.38850. At that level, we are also waiting for the moving averages MA20 and EMA20, which can give a certain boost and lead customers to buy the pound and return it to the bullish trend again. The MACD indicator is in the early phase of the bearish trend, and based on it; we can expect a further continuation of the decline of this pair down to better support.