GBPUSD Targeting 1.3300

The British pound has rallied to a new monthly trading high against the US dollar currency, due to bullish news surrounding Brexit negotiations. Technical analysis shows that a major range break has now occurred, placing the 1.3300 resistance level in focus as a possible upside target. Overall, the GBPUSD pair is expected to strengthen while price trades above the 1.3000 support area.

• If the GBPUSD pair trades above the 1.3000 level, key resistance is found at the 1.3200 and 1.3300 levels.

• The GBPUSD pair is only bearish while trading below the 1.3000 level, key support is found at the 1.2950 and 1.2900 levels.