GBP/USD broke resistance exiting the two week range in yesterdays trading session now trading at 34 month high as bulls eye further gains.
The risk on sentiment has improved as the US ramp up their vaccination campaign seeing US stocks soar.
Global risk on sentiment is weakening the safe haven Dollar & the main contributing factor to the current rally.
If price manages to firmly breach resistance it will coincide with a breach of the upper trendline of the rising wedge with bulls eyeing 1.3800.
In the opposite direction Brexit trade concerns and UK vaccine uncertainties could weigh on the Pound, as top scientists questioning the current vaccination campaign in the wake of new South African strain.
The current outlook remains bullish but price is close to overbought conditions which may cap gains.
Today we have no high impact data release on the economic calendar so expect Dollar demand to be the main focus.
Support: 1.3685 - 1.3627
Resistance: 1.3793 - 1.3843
The risk on sentiment has improved as the US ramp up their vaccination campaign seeing US stocks soar.
Global risk on sentiment is weakening the safe haven Dollar & the main contributing factor to the current rally.
If price manages to firmly breach resistance it will coincide with a breach of the upper trendline of the rising wedge with bulls eyeing 1.3800.
In the opposite direction Brexit trade concerns and UK vaccine uncertainties could weigh on the Pound, as top scientists questioning the current vaccination campaign in the wake of new South African strain.
The current outlook remains bullish but price is close to overbought conditions which may cap gains.
Today we have no high impact data release on the economic calendar so expect Dollar demand to be the main focus.
Support: 1.3685 - 1.3627
Resistance: 1.3793 - 1.3843