The British pound is attempting to break above key resistance against the US dollar as sentiment in broader financial markets is starting to improve. The GBPUSD pair is testing towards the neckline of a large head and shoulders pattern after finding support from the 1.3670 level earlier this week. A sustained breakout above the 1.3780 level and the GBPUSD pair could head towards the 1.3890 level.
The GBPUSD pair is only bullish while trading above the 1.3780 level, key resistance is found at the 1.3840 and the 1.3890 levels.
If the GBPUSD pair trades below 1.3780, sellers may test the 1.3710 and 1.3670 support levels.
