GBPUSD STRONGLY BULLISH ABOVE 1.3420
The British pound has recovered upside momentum towards the 1.3418 level against the US dollar, following solid monthly Wage and Unemployment figures from the United Kingdom economy. Sterling buyers and sellers are currently battling around the 1.3400 level, with bullish momentum growing after the pair found strong dip-buying interest from the 1.3341 level. Traders now look towards the release of key CPI Inflation data from the US economy and the result of today’s Brexit vote in the House of Commons.
The GBPUSD pair is strongly bullish while trading above the 1.3420 level, key technical resistance is located at the 1.3450 and 1.3471 levels.
If the GBPUSD pair fails around the 1.3400 level, sellers will likely test towards the 1.3341 and 1.3300 support levels.