The British pound remains under heavy downside pressure against the US dollar currency, with the pair trading at its weakest level April this year. The 1.3740 level offers the next strongest area of technical support if the 1.3800 area is broken with conviction. The 1.3750 support area represents a potential reversal spot as it forms the top of a large falling wedge pattern which the pair broke out from last month.
The GBPUSD pair is only bullish while trading above the 1.3930 level, key resistance is found at the 1.3960 and the 1.4000 levels.
If the GBPUSD pair trades below the 1.3930, sellers may test the 1.3750 and 1.3670 support levels.
