GBPUSD NOW BULLISH ABOVE 1.3340 LEVEL
The British pound has moved sharply higher against the US dollar, following the release of much better than expected PMI Services data from the United Kingdom economy. The GBPUSD pair currently trades around the 1.3370 level, after finding strong dip-buying demand from the 1.3300 level earlier today. Traders now look for further sterling gains above the 1.3400 level and the release of high-impacting economic data from the United States.
The GBPUSD pair is intraday bullish while trading above the 1.3340 level, key resistance is now located at the 1.3400 and 1.3440 levels.
If the GBPUSD pair moves below the 1.3340 level, we may see sellers testing the 1.3300 support level once again.