The British pound has risen to its highest trading level against the greenback since August 1st, hitting 1.3135, as the US dollar continues to fall over softer inflation data from the American economy. The GBPUSD pair is strongly bullish while trading above the 1.3100 level and now await a scheduled speech from the Bank of England Governor Mark Carney. Buyers will likely target the 1.3200 level, while sellers will need to break the 1.3100 level.
The GBPUSD pair is strongly bullish while trading above the 1.3100 level, key resistance is found at the 1.3155 and 1.3200 levels.
If the GBPUSD pair moves below the 1.3100 level, key intraday support is found at the 1.3080 and 1.3040 levels.