GBPUSD New yearly high

The British pound has hit a new yearly high against the US dollar, after UK lawmakers passed the new Brexit deal into law on Wednesday. Technical analysis shows that the GBPUSD pair only has limited upside resistance once the price breaks past the 1.3660 level. To the downside, a rejection from the 1.3660 area could see the GBPUSD pair sold back towards the 1.3470 support area.

• The GBPUSD pair is only bullish while trading above the 1.3550 level, key resistance is found at the 1.3660 and the 1.3770 levels.

• If the GBPUSD pair trades below the 1.3550, sellers may test the 1.3530 and 1.3470 support levels.