The British pound has fallen towards the 1.4100 level support against the US dollar, after the greenback suddenly found a strong bid tone. Lower time frame analysis shows that a major range breakout will take place if the 1.4100 support level is breached with conviction. Failure to break under the range and the GBPUSD pair could head back towards the 1.4160 level.
The GBPUSD pair is only bullish while trading above the 1.4100 level, key resistance is found at the 1.4130 and the 1.4160 levels.
If the GBPUSD pair trades below the 1.4100, sellers may test the 1.4060 and 1.4020 support levels.
