GBPUSD RALLY SET TO CONTINUE ABOVE 1.4262
The British pound continues to rally against the U.S dollar, with the pair now starting to trade well above the 1.4300 level, as broad-based selling in U.S dollar index accelerates. The GBPUSD pair has so far traded as high as 1.4324, with buying interests in sterling increasing after solid December Wage Earnings and Employment figures from the United Kingdom economy. GBPUSD traders now look to a scheduled speech from UK PM Theresa May, at the World Economic Forum, and the European Central Bank Policy Meeting later today.
The GBPUSD pair remains strongly bullish while trading above the 1.4262 level, further gains towards 1.4350 and 1.4400 appear possible.
Should price-action on the GBPUSD pair start to decline below the 1.4262 level, the 1.4200 and 1.4127 levels now act as intraday support.