The British pound trades higher on an intraday basis against the U.S dollar, moving to a fresh weekly top, hitting 1.3610. The GBPUSD pair has continued to surge, after breaking above the December price-high on Tuesday, with buyers now looking towards the 2017 price-high, which is located at 1.3657. During the upcoming European trading session, the main market moving event for sterling will be the UK Construction PMI. Most economists are expecting that construction activity in the UK moved lower in December, compared to the November reading.
The GBPUSD pair is further bullish while trading above the 1.3567 technical level, buyers will now likely target the 1.3657 and 1.3700 resistance levels.
Should price-action on the GBPUSD pair move below the 1.3567 level, sellers may move to re-test the 1.3500 support region.
