The British Pound started a decent recovery wave from the 1.3430 level against the US Dollar. The GBP/USD pair climbed above the 1.3500 resistance zone.
The pair also traded above the 1.3550 level, but the pair struggled to clear the 1.3600 zone and the 50 hourly simple moving average. It is now consolidating near the 1.3550 level. An immediate resistance is near the 1.3580 level.
The main resistance is now forming near the 1.3600 level. If there is a clear break above the 1.3600 resistance, the pair could climb higher towards 1.3660 on FXOpen.
An initial support is near 1.3550. There is also a key bullish trend line forming with support near 1.3550 on the hourly chart. A break below the 1.3550 support level could even push the pair below the 1.3500 support. The next support sits at 1.3450.
