The US dollar tumbled after a worse-than-expected jobs report.
The pound had held well above the former resistance level of 1.3780. The long side gained confidence while the short side gave up.
Sentiment will remain upbeat as long as the rising trendline is intact. A close above 1.3950 may propel the price to the psychological level of 1.4000, which lies within a supply area on the daily chart.
However, a repeatedly overbought RSI may trigger a pullback. 1.3820 would be the first support in that case.
