The British pound has bounced back towards the pivotal 1.3670 level against the US dollar after bears failed to break under the 1.3600 support level. Technical analysis shows that a breakout above the 1.3670 level could cause the GBPUSD pair to rally towards the 1.3770 level. To the downside, a break under the 1.3600 level could cause the GBPUSD pair to fall towards the 1.3460 level.
The GBPUSD pair is only bullish while trading above the 1.3670 level, key resistance is found at the 1.3702 and the 1.3770 levels.
If the GBPUSD pair trades below the 1.3670, sellers may test the 1.3600 and 1.3460 support levels.