The British pound has bounced back towards the 1.3900 level against the US dollar currency after the greenback failed to hold onto its weekly gains last Friday. Bears beware as the GBPUSD pair has formed a bullish double-bottom price pattern on the four-hour time frame. Sustained gains above the 1.3900 level could easily see the GBPUSD pair rallying towards the 1.4030 level this week.
The GBPUSD pair is only bullish while trading above the 1.3900 level, key resistance is found at the 1.4000 and the 1.4030 levels.
If the GBPUSD pair trades below the 1.3900, sellers may test the 1.3860 and 1.3830 support levels.
