The British pound is gaining upside momentum against the US dollar, following the recent move above the technically important 1.3780 level. Lower time frame analysis shows that the 1.3870 level is now a possible upside target for the GBPUSD pair. GBPUSD dip-buyers may look to enter into the upmove on any price pullbacks towards the 1.3740 technical support region.
The GBPUSD pair is only bullish while trading above the 1.3780 level, key resistance is found at the 1.3830 and the 1.3870 levels.
If the GBPUSD pair trades below the 1.3780, sellers may test the 1.3740 and 1.3670 support levels
