The British pound is at risk of further loss against the US dollar this week due to worsening technicals on the lower and higher time frames. The Parabolic SAR indicator shows that the trend on the daily time frame is bearish while the GBPUSD pair trades below the 1.4000 level. The four-hour time frames also shows that an extremely large head and shoulder pattern will be activated if the GBPUSD trades under the 1.3780 level.
The GBPUSD pair is only bullish while trading above the 1.4000 level, key resistance is found at the 1.4100 and the 1.4140 levels.
If the GBPUSD pair trades below 1.4000, sellers may test the 1.3810 and 1.3780 support levels.
