The British pound is gaining upside momentum against the U.S dollar, with the pair starting to maintain price-action above the key 1.3400 level. Traders have sold the greenback across the board on Wednesday, leading to a weakening of the U.S dollar index towards the 93.00 mark. The GBPUSD pair currently trades around the 1.3410 level, after posting a fresh new price-high at 1.3422. Heading into the U.S trading session, financial markets await the release of December Consumer Confidence data from the U.S economy, and Pending Home Sales for the month of November.
The GBPUSD pair remains intraday bullish while trading above the 1.3400 level, further upside towards the 1.3422 and 1.3444 levels appears likely.
Should price-action on the GBPUSD fall below the 1.3400 level, sellers may push price-action towards the 1.3370 and 1.3340 support levels.
