GBPUSD Another rejection
The British pound is looking increasingly bearish against the US dollar, following another big rejection from the 1.3780 price area on Monday. GBPUSD bears will now be targeting a key breakout below the technically important 1.3670 support level this week. If bears are successful in breaking the 1.3670 support level then the GBPUSD pair could tumble towards the 1.3590 pice area, at a minimum.
The GBPUSD pair is only bullish while trading above the 1.3780 level, key resistance is found at the 1.3830 and the 1.3870 levels.
If the GBPUSD pair trades below the 1.3780, sellers may test the 1.3670 and 1.3590 support levels.