The British pound has staged a sizable rally against the US dollar after the Bank of England failed to mention negative rates during its recent policy meeting. Technical analysis shows that the GBPUSD pair could test towards the 1.3750 level if bulls gain traction above the pivotal 1.3650 area. To the downside, a sustained loss of the 1.3650 level could cause a technical test of the 1.3600 level.
The GBPUSD pair is only bullish while trading above the 1.3650 level, key resistance is found at the 1.3710 and the 1.3750 levels.
If the GBPUSD pair trades below the 1.3650, sellers may test the 1.3600 and 1.3550 support levels.
