The British pound has opened the new trading week strongly against the U.S dollar, following bullish comments from the Bank of England’s Dave Ramsden over the weekend. The GBPUSD pair is currently testing the key 1.4008 level, as hawkish comments on 2018 rate rises from Deputy BOE Governor Ramsden underpin early week pound strength. Moving into today’s European trading session, a sustained move above the key 1.4008 level is likely to encourage further sterling buying.
The GBPUSD pair is intraday bullish whilst trading above the 1.3968 level, key intraday resistance is currently located at the 1.4008 and 1.4080 levels.
Should GBPUSD price-action decline below the 1.3968 level, the pair may then move back toward the key 1.3938 and 1.3901 support level.
