GBPUSD INTRADAY BULLISH ABOVE 1.4255 LEVEL
The British pound has opened the new trading week with a bullish tone against the U.S dollar, despite buyers failing to close the former weekly candle above the pairs 200-week moving average. The GBPUSD pair currently trades around the 1.4250 level, after finding strong technical resistance from the 1.4295 level on Friday. Traders continue to look towards the pairs 200-week moving average for guidance, with sterling’s last week close above this key technical indicator dating back to November 2015.
The GBPUSD pair maintains a strong intraday bullish bias while trading above the 1.4255 level, with key resistance is located at the 1.4295 and 1.4345 levels.
Should the GBPUSD pair fail to hold above the 1.4255 level, sellers may test towards the 1.4200 and 1.4146 support levels.