Current price: 1.3440
Key point: 1.3430
Our preferred strategy: Buy positions above 1.3430 with a first target of 1.3485 and then a second target of 1.3555.
Alternative scenario: Stop loss and trend reversal upon breaking the 1.3410 level, targeting levels of 1.3365.
Technical commentary
The GBP/USD pair reached the upward trend line from last month's low near the 1.3430 support level. If it breaks through the pivotal 1.3450 level, the pair will then head towards 1.3485, and if it breaks through that level, it will continue its upward movement towards 1.3555.
