Daily Forex Update: GBP/USD

The GBP/USD’s daily chart has reached what could be a double bottom. With today’s test of the 1.4496 level, prices are once again trading near the May 7 low of 1.4476. These two levels might indicate where near-term support is waiting for this pair. After three consecutive down days, the GBP/USD could be ready for an upside correction – especially since the 1.4500 area still maintains buying support.