The British Pound remained well bid above the 1.3500 level against the US Dollar. The GBP/USD pair is slowly rising and trading above the 1.3520 level.
There was a break above the 1.3550 resistance and the 50 hourly simple moving average. Besides, there is a key bullish trend line forming with support near 1.3540 on the hourly chart.
On the upside, the pair is now facing resistance near the 1.3565 zone. The next key resistance is near the 1.3580 level. Any more gains might push the pair towards the 1.3600 level, where the bears could take a stand in the near term.
An initial support on the downside is near 1.3550 on FXOpen. The main support is forming near the 1.3540 level. A break below the 1.3540 support and the trend line could even push the pair below the 1.3520 support.
