GBPUSD INTRADAY BULLISH ABOVE 1.3200 LEVEL
The British pound has moved to a two-week trading high against the U.S dollar, hitting 1.3241 during the Asian session. Trading sentiment in the British pound continues to improve, after better than expected UK macroeconomic data, and broad-based weakness in the greenback due to U.S political jitters. The GBPUSD pair currently trades close to weekly price-highs, as sterling traders await further technical confirmation that the price break-out above the 1.3200 level is legitimate.
The GBPUSD pair remains intraday bullish while holding above the 1.3200 technical level. Further upside towards the 1.3268 and 1.3307 levels seems possible.
- Should price-action decline below the 1.3200 level, a technical retest of the 1.3168 level seems likely. Extended support is found at the 1.3130 and 1.3036 levels.