GBPUSD INTRADAY BULLISH ABOVE 1.4110 LEVEL
The British pound has continued to press higher against the greenback overnight, with price-action moving towards the 1.4150 level as the recent sell-off in the U.S dollar accelerates. The GBPUSD looks set to target the 1.4200 region on Friday, with bullish momentum building across medium-term RSI and Momentum technical indicators. Traders now look towards key United Kingdom Retail Sales during the European trading session, with the market expecting a solid figure for the month of January.
The GBPUSD pair is strongly intraday bullish whilst trading above the 1.4100 level, further upside towards the 1.4199 and 1.4278 levels seems possible.
Should GBPUSD price-action start to move below the 1.4110 support level, we may see a correction back towards the 1.4078 and 1.4036 levels.