The British pound is pressing higher against the US dollar currency ahead of the release of important data from the United Kingdom economy this morning. A slight bullish bias is in play after sellers failed to gain activate a bearish head and shoulders pattern on Monday. GBPUSD bulls could start to test back towards key trendline on the four-hour time frame, around the 1.3900 resistance area.
The GBPUSD pair is only bullish while trading above the 1.3810 level, key resistance is found at the 1.3900 and the 1.4000 levels.
If the GBPUSD pair trades below the 1.3810, sellers may test the 1.3780 and 1.3700 support levels.
