The British pound has bounced sharply against the US dollar after testing towards a former key breakout area, around 1.3890 yesterday. GBPUSD short-term bulls are looking strong and could be preparing to attack towards the 1.4100 to 1.4200 area. A sustained breakout above the 1.4010 level is likely to be the technical catalyst for the next big push higher in the GBPUSD pair.
The GBPUSD pair is only bullish while trading above the 1.3890 level, key resistance is found at the 1.4010 and the 1.4100 levels.
If the GBPUSD pair trades below the 1.3890, sellers may test the 1.3840 and 1.3790 support levels.
