The British pound has suffered a heavy rejection from the 1.3700 resistance level against the US dollar as buying interest around the highs of the year started to dry up. Technically, the GBPUSD pair continues to set bullish higher highs on the weekly time frame. Traders that are bullish towards the GBPUSD pair may wait for price stabilization above the 1.3700 before initiating fresh buy positions.
The GBPUSD pair is only bullish while trading above the 1.3580 level, key resistance is found at the 1.3720 and the 1.3770 levels.
If the GBPUSD pair trades below the 1.3580, sellers may test the 1.3520 and 1.3460 support levels
