The British pound is gaining strength against the US dollar, as the greenback continues to lose ground against most major currencies. Technical analysis shows that the GBPUSD pair could be preparing to rally towards the 1.3650 resistance area in the near-term. Overall, the GBPUSD pair has a strong bullish bias while price trades above the former 2020 high, around the 1.3470 level.
If the GBPUSD pair trades above the 1.3470 level, key resistance is found at the 1.3610 and 1.3650 levels.
The GBPUSD pair is only bearish while trading below the 1.3470 level, key support is found at the 1.3410 and 1.3300 levels.
