GBP/USD – sterling/dollar pushing higher
The GBP/USD rallied aggressively last week, breaking and closing well above 1.2329 resistance on major news out of the UK regarding ‘Brexit’ requiring a vote in Parliament. We updated our previous bias on the GBP/USD last week, to a neutral to mildly bullish bias. Short-covering has commenced and we could see a vacuum back up to key resistance levels. We see any weakness in the near-term as a potential buying opportunity, ideally on a 1 hour, 4 hour or daily chart price action signal, targeting resistance up near 1.2860.
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