The British pound has started to recover above the 1.3900 level against the US dollar as the greenback starts to give back some of its hard-fought gains. The daily time frame shows that the GBPUSD pair is still working within a rising price channel, with the top of a channel located around the 1.4000 level. The momentum indicator on the daily time frame is also attempting to break out as the GBPUSD pair recovers.
The GBPUSD pair is only bullish while trading above the 1.3890 level, key resistance is found at the 1.3930 and the 1.4000 levels.
If the GBPUSD pair trades below the 1.3890, sellers may test the 1.3830 and 1.3810 support levels.
