• The GBP/USD pair traded as low as 1.4130 initially in the European session before bouncing towards 1.4167 levels.
   
• The pair remains vulnerable to uncertainty over whether Britain will stay in European Union.
   
• Currently the cable is trading around 1.4178 levels, it is set to decline further towards 1.4100 and later towards 1.4070 levels in the short term.
   
• To the upside, the strong resistance can be seen at 1.3218, a break above this level would expose to cable to next resistance level at 1.4263.
   
• To the downside major support can be seen at 1.4143, a break below will open the door towards next level at 1.4100.
  
  Resistance Levels
  
  R1: 1.3218 (38.2% Retracement Level)
  
  R2: 1.4263 (April 13th high)
  
  R3: 1.4300 (23.6% Retracement Level)
  
  Support Levels
  
  S1: 1.4143 (50% Retracement Level)
  
  S2: 1.4100 (Psychological levels)
  
  S3: 1.4070 (61.8% Retracement Level)