GBPUSD STILL INTRADAY BULLISH ABOVE 1.3807
The British pound continues to recover against the greenback, as bullish comments from UK PM Theresa May and a return to risk-on trading sentiment help to underpin sterling strength. The GBPUSD earlier reached a high of 1.3878, but has now retraced lower, with price-action currently consolidating just below the 1.3850 region. Traders now look towards a key-note speech from Bank of England member Haldane during the European trading session, and the key 90.00 level on the U.S dollar index.
- The GBPUSD pair remains bullish above the 1.3807 level, buyers will continue to target the 1.3858 and 1.3914 resistance levels.
- Should GBPUSD price-action move below the 1.3807 level, key intraday technical support is then found at the 1.3765 and 1.3711 levels.