The British pound has recovered sharply higher against the US dollar, after finding strong technical support around the 1.4100 price area on Thursday. A sustained move above the 1.4220 resistance level is likely to place the 1.4245 level, and possibly the 1.4300 resistance level is focus. Traders are likely to buy into any meaningful pullbacks in expectation of a powerful rally.
The GBPUSD pair is only bullish while trading above the 1.4160 level, key resistance is found at the 1.4220 and the 1.4245 levels.
If the GBPUSD pair trades below the 1.4160, sellers may test the 1.4100 and 1.4070 support levels.
