GBPUSD 1.4000 possible
The British pound continues to breakout to fresh multi-year trading highs against the US dollar, following the recent move above the 1.3750 level. Technical analysis continues to highlight the 1.4000 and 1.4150 levels as the next big upside targets for the GBPUSD pair. To the downside, any moves back towards the 1.3770 to 1.3750 area will likely be seen as a major buying opportunity.
The GBPUSD pair is only bullish while trading above the 1.3750 level, key resistance is found at the 1.3890 and the 1.4000 levels.
If the GBPUSD pair trades below the 1.3750, sellers may test the 1.3730 and 1.3710 support levels.