The GBPUSD pair has staged a fairly large technical pullback below the 1.3500 level in early week trading, catching traders who were long over the positive Brexit news off guard. The move could be technically driven, as the pullback appears to be corrective in nature. According to higher time frame analysis the GBPUSD pair could be headed towards the 1.4000 resistance zone.
The GBPUSD pair is only bullish while trading above the 1.3500 level, key resistance is found at the 1.3630 and the 1.3800 levels.
If the GBPUSD pair trades below the 1.3500, sellers may test the 1.3400 and 1.3300 support levels.
