The British pound sterling closed on Friday with losses, although price action remains firmly within the ascending price channel.
The support level near 1.3500, clearly remains the major line in the sand. Further upside is likely to continue upon establishing firm support near this level on a daily and weekly basis.
To the upside, a possible continuation may see the GBPUSD attempting to test the 16th April 2018 highs near 1.4376.
Watch the minor rising trendline, which if breached could see the correction back to the 1.3500 handle.
But the Stochastics oscillator is likely to signal another short term momentum to the upside.
If the GBPUSD fails to break past the 21st January highs of 1.3745, then we might see a possible pullback.
