GBPUSD INTRADAY GAINS LIKELY ABOVE 1.3855
The British pound has recovered upside momentum against the greenback, as the U.S dollar index turns lower towards the key 0.9000 support level. The GBPUSD pair is currently trading around the 1.3855 region, after finding strong support and buying interest from the 1.3760 level on Friday. Going forward, sterling traders are likely to remain cautious ahead of the United Kingdom inflation numbers on Tuesday, as the Consumer Price Index and Producer Price Index are released for the month of January.
The GBPUSD pair is likely to see further upside above the 1.3855 level, key intraday resistance is now found at the 1.3892 and 1.4000 levels.
Should the GBPUSD pair fail to find buyers above the 1.3855 level, we may see a decline back towards the 1.3824 and 1.3875 support levels.