Break of support level 1.3715 will increase the likelihood of further decline towards the long-term key support level 1.3345, separating the long-term bullish trend from the bearish one (see also "Fundamental Analysis and Recommendations")
In an alternative scenario, GBP / USD will rebound from 1.3810 and resume growth. Breakdown of resistance levels 1.3868, 1.3880 will return GBP / USD to the bull market.
The breakdown of the upper border of the descending channel on the weekly chart and the resistance level of 1.3970 (Fibonacci level 38.2% of the correction to the decline of the GBP / USD pair in the wave that began in July 2014 near the level of 1.7200) will be a signal for further growth towards the local resistance level 1.4240 and the resistance level 1.4300.
Trading recommendations
Sell Stop 1.3790. Stop-Loss 1.3850. Take-Profit 1.3715, 1.3600, 1.3345, 1.3210
Buy Stop 1.3850. Stop-Loss 1.3790. Take-Profit 1.3868, 1.3880, 1.3970, 1.4000, 1.4100, 1.4200, 1.4240, 1.4300, 1.4350, 1.4440, 1.4580, 1.4830
*) GBP/USD: Current Fundamental Analysis and Market Expectations
**) the most up-to-date "hot" analytics and trading recommendations (including entries into trades "by-the-market") - https://t.me/fxrealtrading
