The British pound has staged a strong bounce back against the US dollar, with the pair recovering back above the 1.3500 resistance zone. The technical analysis highlights that an extremely large bullish reversal pattern still remains in play on the higher time frames. Dip-buying appears to be the top strategy for GBPUSD short-term traders while the price holds above the 1.3380 level.
The GBPUSD pair is only bullish while trading above the 1.3480 level, key resistance is found at the 1.3630 and the 1.3800 levels.
If the GBPUSD pair trades below the 1.3480, sellers may test the 1.3420 and 1.3380 support levels.
