GBPUSD FURTHER BULLISH ABOVE 1.3440 LEVEL
The British pound has moved sharply higher overnight, reaching 1.3439 against the greenback, as the U.S dollar index moves well below the key 93.00 support level. The GBPUSD pair currently trades around the 1.3430 level, with the pair now threatening a major upside technical range break above the key 1.3440 level. With a lack of macro-economic data from the United Kingdom, sterling traders will look to Weekly Jobs, Trade Balance and PMI Manufacturing data coming from the United States economy later today.
The GBPUSD pair will turn further bullish above the 1.3440 resistance level, with buyers likely to target the 1.3500 and 1.3550 levels.
Should price-action on the GBPUSD pair fail below the 1.3440 level, sellers are likely to move price-action towards the 1.3418 and 1.3400 support levels.