The pound rallied across the board after the UK’s unemployment rate fell from 5.1 % to 4.9 %.
The pair has surged to a four-week high, breaking above the consolidation range on the daily chart in the process. This is a signal that the uptrend may have resumed.
The previous high at 1.4200 could be the next on the list. But for now, profit-taking around the psychological level of 1.4000 may drive the price lower while the RSI returns to the neutrality area. The resistance-turn-support 1.3900 would be the area of interest.
