POUND AWAITS BREXIT SPEECH
The British pound continues to push higher against the U.S dollar, ahead of a key speech by British Prime Minister Theresa May on the terms of Brexit deal with European Union in Florence, Italy.
Yesterday, the GBPUSD pair reversed Wednesday's losses, after breaking back above the key 1.3515 technical level, creating a surge in buying interest back towards the 1.3600 region.
The GBPUSD pair remains strongly bullish in intraday trading while price-action is above the 1.3553 level, which represents the pairs weekly pivot point.
Key upside resistance is currently located at 1.3618, 1.3633 and the currently yearly high, at 1.3657. Above the yearly price-high, further resistance is found at 1.3680 and 1.3710.
To the downside, key intraday technical support is found at the 61.8 Fibonacci retracement of Wednesday daily range, at 1.3569 and the weekly pivot at 1.3553.
Below 1.3553, further support is seen at 1.3538 and 1.3515, with critical weekly support, at 1.3480.