GBPUSD Sterling struggles
The British pound continues to struggle against the US dollar, following a short-lived corrective move back towards the 1.3780 resistance level. Selling pressure towards the GBPUSD pair is likely to increase dramatically if bears can break the 1.3670 level. It is worth noting that selling into short-term technical rebounds in the GBPUSD pair is proving to be the most profitable strategy right now.
The GBPUSD pair is only bullish while trading above the 1.3780 level, key resistance is found at the 1.3830 and the 1.3850 levels.
If the GBPUSD pair trades below the 1.3780, sellers may test the 1.3670 and 1.3590 support levels.