The British pound is struggling to break above the 1.3900 level against the US dollar as the greenback starts to gain strength across-the-board during the European session. The GBPUSD pair still appears to be carving out a large inverted head and shoulders pattern. Any dips under the 1.3870 level are likely to remain a buying opportunity, with the 1.3750 level acting as extended weekly support.
The GBPUSD pair is only bullish while trading above the 1.3870 level, key resistance is found at the 1.3930 and the 1.4010 levels.
If the GBPUSD pair trades below 1.3870, sellers may test the 1.3830 and 1.3750 support levels.
