GBPUSD TURNING BULLISH ABOVE 1.3550 LEVEL
The British pound has moved higher against the U.S dollar during the European trading session, after sellers failed to push price-action below the 1.3500 level. Better than expected macro-economic data from the UK economy, and a weaker U.S dollar index have also helped the GBPUSD pair to claw back yesterday’s losses. Moving into the U.S trading session, technical traders will battle for positioning around the 1.3550 technical region, ahead of the release of the December ADP jobs report.
The GBPUSD pair will only turn bullish above the 1.3550 technical level, upside targets for buyers remain 1.3567 and 1.3613.
Should price-action on the GBPUSD pair fail to hold price-action above the 1.3550 level, a decline back towards the 1.3500 and 1.3468 levels remains likely.