The British pound is trading around topside resistance against the US dollar ahead of a key speech from British Prime Minister Boris Johnson. The GBPUSD pair is testing towards the top of an extremely large rising price channel around the 1.4000 level. This makes the 1.4000 level extremely important in the near-term, as further gains above this area could propel the GBPUSD pair towards the 1.4130 price zone.
The GBPUSD pair is only bullish while trading above the 1.3960 level, key resistance is found at the 1.4030 and the 1.4100 levels.
If the GBPUSD pair trades below 1.3960, sellers may test the 1.3900 and 1.3850 support levels.
