GBPUSD More upside expected

The British pound has moved back under the 1.3900 level against the US dollar, although the overall bid-tone in the pair still remains firm. The Williams Alligator indicator is still issuing a strong buy signal on the daily time frame, pointing to further gains ahead for the GBPUSD pair. A rising price channel on the daily time frame is also suggesting that the GBPUSD pair can reach the 1.4000 level.

• The GBPUSD pair is only bullish while trading above the 1.3750 level, key resistance is found at the 1.3930 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.