The British pound has moved higher against the U.S dollar after UK employment data continued to show steadily rising wage inflation in the United Kingdom economy. The GBPUSD pair has moved above the key 1.3340 level, and found resistance at the 1.3370 level thus far. Price-action currently trades around the 1.3360 level, with the 1.3380-1.3400 region likely to be the next major upside hurdle for buyers. The pair will also likely find its next directional move from the release of monthly U.S Consumer Price Index inflation figures.
The GBPUSD pair has now turned intraday bullish after clearing the 1.3340 level, further upside towards the 1.3400 and 1.3470 levels now appears possible.
Should GBPUSD sellers push price-action below the 1.3340 technical level, further selling back towards the 1.3303 and 1.3268 support levels remains possible.
