GBPUSD More Upside Expected

The British pound has moved back under the 1.3900 level against the US dollar, although the overall bid-tone in the pair still remains firm. The Williams Alligator indicator is still issuing a strong buy signal on the daily time frame, pointing to further gains ahead for the GBPUSD pair. A rising price channel on the daily time frame is also suggesting that the GBPUSD pair can reach the 1.4000 level.

The GBPUSD pair is only bullish while trading above the 1.3750 level, key resistance is found at the 1.3930 and the 1.4000 levels.

If the GBPUSD pair trades below the 1.3750, sellers may test the 1.3730 and 1.3710 support levels.