The British pound continues to move higher against the U.S dollar during the European trading session, after breaking above the key 1.3201 level. Intraday U.S dollar weakness and the expected rate hike from the Bank of England on Thursday are supporting British pound buying interests. The GBPUSD pair currently trades around the price-highs of the day, ahead of the release of Consumer Confidence in the upcoming U.S trading session.
Buying interest in the GBPUSD pair remains firm whilst price-action holds above the key 1.3201 technical level. Further buying interest towards the 1.3222 and 1.3268 levels should be expected.
Should the GBPUSD move below the 1.3201 technical level in the upcoming trading session, selling towards the 1.3178 and 1.3157 support remains likely.
