Before we get onto the 4H timeframe, it is important to note that this pair is in an overall downtrend and has been for some time. It has recently tried to break out of the down trend these past few weeks and has now closed back below the descending resistance and on the 4H time frame; a falling 3 formation has occurred after a move signalling continuation. A candle formed after the falling 3 formation and now some smaller candles have moved the market sideways with longer upper wicks showing rejection from the descending resistance with little lower wicks showing the upper prices and resistance are being rejected in anticipation for a fall.
First target for this pair is 143.500, the second target is 142.000 and the final target in this analysis is 141.000 without looking at further downside potential. Of course any trade taken on this will be based on the above and the actual price action of the pair and with other areas of confluence. For the next coming week, it doesn't appear that GBP has any major news announcements on the economic calander either. Best of luck.
Any thoughts and opinions are welcomed. Thanks again