The British pound is trading around the best levels of the year against the US dollar, following another big rally above the benchmark 1.3700 level. Any dips back under the 1.3700 support level should almost certainly be seen as a solid buying opportunity by GBPUSD bulls. The overall downside risk this week would be an extended decline towards the 1.3610 area if the greenback firmed again.
The GBPUSD pair is only bullish while trading above the 1.3690 level, key resistance is found at the 1.3770 and the 1.3800 levels.
If the GBPUSD pair trades below the 1.3690, sellers may test the 1.3660 and 1.3610 support levels.
