The British pound is looking increasingly bullish against the US dollar currency as the pair continue to rally above the 1.3900 level. The GBPUSD pair is edging closer to the neckline of a large inverted head and shoulders pattern, around the 1.4010 level. According to the size of the pattern, gains above the 1.4010 resistance level could cause the pair to explode to the 1.4300 level.
The GBPUSD pair is only bullish while trading above the 1.3900 level, key resistance is found at the 1.4010 and the 1.4100 levels.
If the GBPUSD pair trades below 1.3900, sellers may test the 1.3870 and 1.3830 support levels.
