GBPUSD (1.3270): The British pound closed with strong gains yesterday on a better than expected GDP print. Price action has managed to breakout to the upside from the long term triangle consolidation pattern. This could see the pound sterling extend the gains towards 1.3360 – 1.3361 levels in the near term. With the minor inverse head and shoulders pattern that emerged, GBPUSD is on track to complete the minimum upside move towards 1.3282 level, followed by an extension towards 1.3360. We also notice that there is an ascending triangle pattern being formed that adds to the upside bias.
