The British pound has started the trading week under pressure against the US dollar after performing its lowest weekly price close since April this year. The GBPUSD pair could fall towards the 1.3660 level if bears are able to breach the double-bottom pattern around the 1.3740 area. Sellers should note that the four-hour time frame continues to show that bearish price MACD price divergence is still present and extends towards the 1.4000 level.
The GBPUSD pair is only bullish while trading above the 1.3860 level, key resistance is found at the 1.3900 and the 1.4000 levels.
If the GBPUSD pair trades below the 1.3860, sellers may test the 1.3740 and 1.3660 support levels.
