The British pound continues to firm above the 1.3900 level against the US dollar as the pair stages a strong recovery after last weeks big sell-off. GBPUSD bulls may be preparing target a key rising trendline on the four-hour trendline, around the 1.4060 level. Traders should be aware that the MACD indicator on the mentioned time frame is showing bearish price divergence down towards the 1.3900 level.
The GBPUSD pair is only bullish while trading above the 1.3960 level, key resistance is found at the 1.4000 and the 1.4060 levels.
If the GBPUSD pair trades below 1.3960, sellers may test the 1.3900 and 1.3840 support levels.
