The British pound has risen to its highest trading level against the US dollar since September 2018, after British Prime Minister Theresa May confirmed that Article 50 could be extended for a limited period. The GBPUSD pair has pulled back slightly from the 1.3300 resistance area, although the strong intraday bullish bias will remain intact while price trades above the 1.3200 level. Traders should note that an inverted head and shoulders pattern has formed, with the neckline of the bullish pattern located just above the 1.3300 level.
The GBPUSD pair has a strongly bullish bias while trading above the 1.3200 level, key technical resistance is found at the 1.3300 and 1.3350 levels
If the GBPUSD pair trades below the 1.3200 level, sellers may test towards the 1.3160 and 1.3095 support levels.
