GBPUSD STILL FINDING BUYERS ABOVE 1.3500
The British pound continues to find dip-buying interest, with the price still trading well above the 1.3500 level against the U.S dollar, after Tuesday’s strong bounce from the 1.3483 level. The GBPUSD pair currently trades around the 1.3530 level, after finding strong technical resistance from the 1.3560 level. Sterling traders now look towards U.S PPI Inflation data later today and are likely to remain cautious ahead of Thursday’s Bank of England meeting.
The GBPUSD pair may continue to trade higher while price holds above the 1.3500 level. Key upside resistance is found at the 1.3560 and 1.3592 levels.
If the GBPUSD pair falls below the 1.3500 level again, key support is then found at the 1.3483 and 1.3460 levels.