The British pound has incurred a second heavy day of losses against the US dollar, although no real fundamental catalysts have been attributed to the breakdown. The 1.3670 level is now critical upcoming support and a key former bounce area for the GBPUSD pair. A large falling wedge pattern has also formed on the lower time frame and is pointing to a potential drop towards the 1.3590 region.
The GBPUSD pair is only bullish while trading above the 1.3770 level, key resistance is found at the 1.3830 and the 1.3850 levels.
If the GBPUSD pair trades below 1.3770, sellers may test the 1.3670 and 1.3590 support levels.
