The British pound is pressing back towards the 1.4200 level against the US dollar, after the pair found strong dip-buying interest around the 1.4115 support area. Lower time frame analysis shows that the despite the pullback, the pair is making higher highs and lower lows. Any pullback towards the 1.4160 level could be a buying opportunity in expectation of a new high.
The GBPUSD pair is only bullish while trading above the 1.4160 level, key resistance is found at the 1.4220 and the 1.4250 levels.
If the GBPUSD pair trades below the 1.4160, sellers may test the 1.4135 and 1.4115 support levels.
