The British pound is back on the rise against the US dollar after sellers failed to move the pair under its established short-term price range. The GBPUSD pair could test towards the top of its short-term range now as sellers cannot hold the price under the 1.4100 level. Sustained gains above the 1.4160 level should provide a powerful hint that the GBPUSD pair is headed back above the 1.4230 level.
The GBPUSD pair is only bullish while trading above the 1.4160 level, key resistance is found at the 1.4200 and the 1.4230 levels.
If the GBPUSD pair trades below the 1.4160, sellers may test the 1.4130 and 1.4090 support levels.
