GBPUSD SELLERS TARGET BELOW 1.4000 LEVEL
The British pound remains under selling pressure against the U.S dollar, after a strongly bearish weekly price close well below the 1.4100 level. The GBPUSD pair currently trades around the 1.4018 level in early week trading, after earlier finding technical support from the 1.3991 level. Traders now look toward the key 1.4000 handle for direction, with the U.S Manufacturing PMI headlining Monday’s macroeconomic calendar.
The GBPUSD pair is strongly bearish while trading below the 1.4000 level, further losses towards the 1.3960 and 1.3890 levels remains possible.
If the GBPUSD pair moves back above the 1.4048 level, buyers may test towards the 1.4100 and 1.4149 resistance levels.