The British Pound is holding the main 1.3665 support zone against the US Dollar. The GBP/USD pair is slowly rising and it is trading above the 1.3700 resistance level.
There was a break above the 1.3725 resistance and the 50 hourly simple moving average. There is also a major bullish trend line forming with support near 1.3740 on the hourly chart.
On the upside, the key resistance is near the 1.3775 and 1.3780 levels. A clear break above the 1.3780 level could open the doors for a steady increase. The next major resistance is near the 1.3820 zone, above which the pair could recover towards 1.3850 on FXOpen.
If there is a downside break below the trend line support and the 50 hourly SMA, the pair might decline further below 1.3700. The next major support sits near 1.3665.
