GBP/USD is Pushing Towards The 1.4000 mark

The British pound is trading slightly above the 1.3360 level, but not by much as it moves towards its next significant resistance at the 1.4000 mark. One can expect another wave up to test this zone once again before going back below targeting even lower supports around here.
The GBP/USD pair has been consistently consolidating since January when the Bank Of England cut interest rates for the first time after seven years which sent markets into chaos and made investors question whether we will ever see any economic recovery finally happening outside the UK economy. It seems like last week’s events haven’t changed anything significantly. Lately, there have only been sideways trends following each other without giving room enough space so far until our eyes get used to seeing those patterns over-and.