The British pound is on the rise against the US dollar, following comments from the Bank of England that negative interest rates may not be forthcoming. Technical analysis shows that the 1.3580 level is the key pivot point watch this week, and key area bulls need to defend. Looking above the 1.3600 level, the 1.3660 area offers the strongest form of upcoming resistance before the 1.3700 level.
The GBPUSD pair is only bullish while trading above the 1.3580 level, key resistance is found at the 1.3660 and the 1.3700 levels.
If the GBPUSD pair trades below the 1.3580, sellers may test the 1.3420 and 1.3300 support levels.
