British Pound Technical Forecast: GBP/USD Reversal Risks May Setback 2021-05-03 18:00:00 Michael Boutros, Strategist Sterling Technical Price Outlook: GBP/USD Weekly Trade Levels Sterling technical trade level update – Weekly Chart GBP/USD weekly reversal off resistance keeps multi-month range in focus heading into May Resistance at 1.3931, 1.4024 Key – Support 1.3654, broader bullish invalidation1.3435 Advertisement The British Pound plunged more than 0.5% against the US Dollar last week with Sterling reversing sharply off key technical resistance. The threat of a deeper correction within the broader uptrend remains heading into the May open and the battle lines have been drawn. These are the updated targets and invalidation levels that matter on the GBP/USD weekly technical chart. Review my latest Strategy Webinar for an in-depth breakdown of this Cable trade setup and more.