The British pound has moved back towards the trading highs of the week against the U.S dollar, after data from the United Kingdom showed UK wages growing at the fasted pace since 2016. The GBPUSD pair currently trades around the 1.4060 level, with pound sentiment also receiving a boost from a fall in the official UK unemployment rate. A technical break above the 1.4088 level may encourage further gains towards the 1.4146 level, whilst key daily support for the pair is found at the 1.3960 level.
The GBPUSD pair remains strongly bullish whilst trading above the 1.4045 level, further gains towards the 1.4088 and 1.4146 levels seem possible.
If price-action on the GBPUSD pair moves below the 1.4045 level, a correction back towards the 1.4000 and 1.3960 levels may occur.
