GBP/USD started a fresh increase from the 1.3350 zone and climbed above 1.3600. GBP/JPY is also rising, but it is facing resistance near 156.50.
Important Takeaways for GBP/USD and GBP/JPY
· The British Pound started a fresh increase above the 1.3400 and 1.3500 resistance levels against the US Dollar.
· There was a break below a key bullish trend line with support near 1.3550 on the hourly chart of GBP/USD.
· GBP/JPY also started a steady increase above the 155.00 and 155.50 resistance levels.
· There is a major bullish trend line forming with support near 155.55 on the hourly chart.
GBP/USD Technical Analysis
After a major decline, the British Pound found support near the 1.3350 zone against the US Dollar. The GBP/USD pair started a fresh increase above the 1.3400 and 1.3450 resistance levels to move into a positive zone.
There was also a break above the 1.3550 zone and the 50 hourly simple moving average. It traded as high as 1.3627 on FXOpen and is currently correcting gains.
..More info: blog FXOpen
