The British pound is looking more bullish against the US dollar, following last Friday’s powerful breakout above the 1.3800 level. Lower time frame analysis shows that a bullish trendline breakout has taken place after the GBPUSD pair moved above the 1.3780 level. If the GBPUSD pair continues to hold above the 1.3780 level then buyers could attack towards the 1.3870 resistance area.
The GBPUSD pair is only bullish while trading above the 1.3780 level, key resistance is found at the 1.3830 and the 1.3870 levels.
If the GBPUSD pair trades below the 1.3780, sellers may test the 1.3740 and 1.3710 support levels.
