GBPUSD 1.3690 support

The British pound performed another positive weekly price close against the US dollar keeping the short and medium-term bullish prospects of the pair firmly intact. Technical analysis highlight the 1.3840 level as a potential upside target for the GBPUSD pair this week. Technical analysis shows that the 1.3690 level is the key near-term support level GBPUSD bulls need to defend.

• The GBPUSD pair is only bullish while trading above the 1.3690 level, key resistance is found at the 1.3770 and the 1.3800 levels.

• If the GBPUSD pair trades below the 1.3690, sellers may test the 1.3660 and 1.3610 support levels.