GBPUSD Breaking out
The British pound has moved back above the 1.3700 level against the US dollar as traders turn increasingly bullish towards the pair. Continued gains above the 1.3700 level are likely to see the GBPUSD pair start moving into a much higher trading range. The main upside targets for the GBPUSD pair over the medium-term are located at the 1.4000 and 1.4150 levels.
The GBPUSD pair is only bullish while trading above the 1.3660 level, key resistance is found at the 1.3770 and the 1.3800 levels.
If the GBPUSD pair trades below the 1.3660, sellers may test the 1.3620 and 1.3580 support levels.