The British pound is attempting to recover against the US dollar as the technical surrounding the pair still remain bullish in the short-term. The GBPUSD pair continues to trade above its 200-period on the four-hour time frame, so buying dips still remains appropriate right now. A large inverted head and shoulders pattern will also be activated if the GBPUSD pair rallies above the 1.4010 level this week.
The GBPUSD pair is only bullish while trading above the 1.3870 level, key resistance is found at the 1.3930 and the 1.4010 levels.
If the GBPUSD pair trades below 1.3870, sellers may test the 1.3840 and 1.3790 support levels.
