GBPUSD BULLISH ABOVE 1.3340 LEVEL
The British pound has started to recover upside momentum against the US dollar, with sterling now trading well above the key 1.3300 resistance level. The GBPUSD currently trades around the 1.3360 level, with the pair increasingly bullish while price holds above the 1.3340 level. Traders now look to the release of the United Kingdom Construction PMI this morning, and US Factory Orders later today.
The GBPUSD pair is bullish while trading below the 1.3300 level, key resistance is now located at the 1.3400 and 1.3450 levels.
If the GBPUSD pair falls below the 1.3340 level, we may see sellers once again testing towards the 1.3300 support level.