The British pound has continued to gain traction against the U.S dollar during the European session, with price-action so far finding intraday resistance from the 1.4116 level. The GBPUSD pair has also found dip-buying demand on retracements, with a strong bullish bias in place while price holds above the 1.4088 level. Moving into the U.S session, traders and investors may become cautious ahead of this week’s key inflation data releases from the U.S economy.
The GBPUSD pair is strongly bullish while trading above the 1.4088 level, key upside resistance is now found at the 1.4146 and 1.4200 levels.
Should price-action on the GBPUSD pair decline below the 1.4088 level, key support is found at the 1.4068 and 1.4030 levels.
