STERLING BREAKS ABOVE 1.3200

The GBPUSD pair has broken above the key 1.3200 level, and trades above the monthly time frame 20 period moving average, reaching its highest trading level since September 2016, at 1.3236, as the U.S dollar index fell to a fourteen-month low.

The last time sterling traded above the monthly time frame, 20 period moving average was on the United Kingdom's vote to leave the European Union. And the last time the GBPUSD pair was above to have a monthly price close above the Monthly 20 period moving average, was on August 2014.

The GBPUSD pair remains strongly bullish on all time frames, and has performed a major technical break out since moving above the 1.3122 level.

Key intraday resistance for GBPUSD is found at 1.3275, 1.3300 and the September 2016 monthly price high, at 1.3347.

Support for the GBPUSD pair is found at 1.3215, with the monthly time frame, 20 period moving average adding intraday crucial support at 1.3204.

Below 1.3200 level, the GBPUSD daily pivot point is converging with the M5 time frame, 200 period moving average, at 1.3190.