The British pound has continued to press higher against the U.S dollar during the European trading session, with price-action so far finding interim resistance around the 1.4060 technical region. The GBPUSD pair currently trades around the 1.4050 level, with the greenback under heavy selling pressure across board in early week trading. Moving into today’s U.S trading session, the bullish sentiment behind the sterling recent rise is likely to remain intact whilst price-action holds above the key 1.4008 level.
The GBPUSD pair is strongly bullish whilst trading above the 1.4008 level, further upside towards 1.4079 and 1.4144 seems possible.
Should GBPUSD price-action move below the key 1.4008 level, a sharp decline towards the 1.3968 and 1.3938 levels appears likely.
