The British pound is holding key support against the US dollar, ahead of a slew of important data releases from the United Kingdom economy. Technical analysis shows that bulls need to defend the 1.3580 level in order to keep the recent recovery intact. A bullish inverted head and shoulders pattern on the lower time frames is pointing to a coming rally towards the 1.3720 level.
The GBPUSD pair is only bullish while trading above the 1.3580 level, key resistance is found at the 1.3660 and the 1.3720 levels.
If the GBPUSD pair trades below the 1.3580, sellers may test the 1.3420 and 1.3300 support levels.
