The British pound remains under pressure against the US dollar towards the 1.3700 level after positive GDP data failed to lift the pair earlier today. Selling pressure is likely to persist towards the GBPUSD pair while the price trades under the neckline of a large head and shoulders pattern, around the 1.3780 level. According to the overall size of the bearish pattern, the GBPUSD pair could fall towards the 1.3300 support level.
The GBPUSD pair is only bullish while trading above the 1.3780 level, key resistance is found at the 1.3840 and the 1.3890 levels.
If the GBPUSD pair trades below 1.3780, sellers may test the 1.3705 and 1.3670 support levels.
