GBPUSD STRONGLY BULLISH ABOVE 1.3440
The British pound continues to climb higher against the U.S dollar, hitting 1.3460, reaching the highest trading level for sterling since December 8th. The GBPUSD pair currently trades around the 1.3450 level, as buyers retain firm control of price-action, as the greenback sinks lower. Traders continue to sell the U.S dollar index, with the 92.60 mark the latest key downside technical support level to be broken overnight. With a lack of macroeconomic data coming from the U.S and UK, year-end trading flows are likely to dominate trading action on Friday.
The GBPUSD pair is strongly bullish while trading above the 1.3440 resistance level, upside targets remain 1.3500 and 1.3550 levels.
Should price-action on the GBPUSD pair trade below the 1.3440 level, sellers are likely to target the 1.3426 and 1.3400 support regions.