The British pound has rallied to a fresh 2020 trading high against the US dollar after the pair finally tested the 1.3500 resistance level. GBPUSD bulls could be preparing to attack towards the 1.3650 level in the short-term if the 1.3500 barriers is broken. Higher time frame analysis shows that a large inverted head and shoulders pattern is in play while price trades above the 1.3470 level.
If the GBPUSD pair trades above the 1.3470 level, key resistance is found at the 1.3550 and 1.3650 levels.
The GBPUSD pair is only bearish while trading below the 1.3470 level, key support is found at the 1.3400 and 1.3370 levels.
