On Monday, the GBP/USD started the week with an extension of Friday’s surge. Namely, the rate confirmed previous resistance near 1.3800 as support and resumed the surge that started just before mid-day on Friday.
In the near term future, the rate was expected to continue to surge, as it had passed the resistance near 1.3900. Next target for a surge was the 1.3950 level and afterwards, the 1.3967 mark.
On the other hand, the rate could consolidate by trading above the support of the 1.3900 mark.
