The British pound has staged a confirmed bearish breakout against the US dollar after sellers took control after yesterday’s FOMC policy meeting. The GBPUSD pair is now vulnerable to further losses towards the 1.3930 support area in the short term. Any sustained moves back above the 1.4090 resistance level should be considered extremely bullish for the GBPUSD pair.
The GBPUSD pair is only bullish while trading above the 1.4090 level, key resistance is found at the 1.4160 and the 1.4230 levels. If the GBPUSD pair trades below the 1.4090, sellers may test the 1.4000 and 1.3930 support levels.