The British pound continues to build bullish upside momentum against the U.S dollar, with price-action moving to its highest trading level since February 2nd. The GBPUSD pair yesterday moved to a new March price-high, hitting 1.4240, with buyers now looking towards the pairs 200-week moving average, currently located at the 1.4268 level. Overall U.S dollar weakness and ongoing Brexit negotiation news remains the main driving force behind intraday price movements in the pair.
The GBPUSD pair retains a bullish bias whilst trading above the 1.4200 level, further upside towards 1.4268 and 1.4343 seems possible.
Should GBPUSD price-action trade below the 1.4200 level for a sustained period, a correction towards the 1.4146 and 1.4087 levels remains possible.
