The British pound has finally broken above the 1.3400 level against the US dollar currency, following weaker-than-expected economic data from the US economy. The 1.3470 resistance level is the first major GBPUSD upside target if the breakout remains in play. Once above the 1.3470 level GBPUSD bulls could start to target the 1.3500, and finally the 1.3650 resistance levels.
If the GBPUSD pair trades above the 1.3400 level, key resistance is found at the 1.3550 and 1.3650 levels.
The GBPUSD pair is only bearish while trading below the 1.3400 level, key support is found at the 1.3350 and 1.3300 levels.
