The British pound is starting to recover against the US dollar currency again, following better than expected March GDP figures from the United Kingdom economy. A bullish price pattern continues to predict that the GBPUSD pair will soon test the 1.4200 level. It is particularly noteworthy that a much larger bullish reversal pattern will form if the GBPUSD pair reaches the 1.4240 level.
The GBPUSD pair is only bullish while trading above the 1.4090 level, key resistance is found at the 1.4200 and the 1.4240 levels.
If the GBPUSD pair trades below 1.4090, sellers may test the 1.4050 and 1.4010 support levels.
