GBPUSD (1.3580): The British pound extended gains once again yesterday breaking past the bullish flag pattern. Price action is critically trading below the resistance level of 1.3589. A breakout above this level is needed for the GBPUSD to continue to extend the gains. However, a reversal near the resistance level could send the cable lower as the bullish flag pattern becomes invalidated. The price action in GBPUSD will most likely be determined by the PM May’s speech today.
