GBPUSD 1.3750 possible
The British pound has started to correct lower against the US dollar despite the UK economy releasing better-than-expected GDP data earlier today. Technical analysis shows that the 1.3750 level is a solid support area for traders looking to buy into the dip. Overall, a bullish price pattern on the higher time frames continues to point towards a coming rally towards the 1.4000 level.
The GBPUSD pair is only bullish while trading above the 1.3750 level, key resistance is found at the 1.3850 and the 1.3880 levels.
If the GBPUSD pair trades below the 1.3750, sellers may test the 1.3710 and 1.3680 support levels.