GBPUSD BUYERS IN CONTROL ABOVE 1.3740 LEVEL
The British pound has moved sharply higher against the U.S dollar on Monday, hitting 1.3819, after the U.S dollar index collapsed towards the 90.20 level. Price-action has now retreated underneath the 1.3800 handle, with the GBPUSD pair currently testing intraday demand around the 1.3770-80 region. With financial markets away in the United States, sterling traders will likely focus on the 1.3800 barrier, and the release of key December CPI inflation data from the United Kingdom economy on Tuesday.
The GBPUSD pair remains strongly bullish while trading above the 1.3740 level, buyers can may push price-action towards the 1.3810 and 1.3890 resistance levels.
Should price-action on the GBPUSD pair move below the 1.3740 zone, intraday support is located at the 1.3689 and 1.3657 technical levels.