There are more than couple of new developments on the GBP/USD charts. First of all the pair has pierced the medium term resistance line, as it was expected before.
Secondly, a new medium scale ascending pattern has been revealed, which is highly likely going to guide the currency exchange rate higher throughout July.
Third and utmost important to day traders is the increase of volatility caused by UK Services PMI this morning. The increase of volatility caused the reveal of a junior ascending channel pattern, which is guiding the currency pair up to the PP at the 1.3250 mark.
