The British has declined sharply against the US dollar as the huge spike in US bond yields have cause currency traders to buy the greenback. A bearish broadening ascending triangle pattern can clearly be seen on the daily time frame, with the breakout point close to the 1.4000 support level. The MACD indicator on the daily time frame is also trending lower, which is a bearish sign.
The GBPUSD pair is only bullish while trading above the 1.4000 level, key resistance is found at the 1.4130 and the 1.4200 levels.
If the GBPUSD pair trades below 1.4000, sellers may test the 1.3900 and 1.3850 support levels.
