STERLING MOVES TOWARDS 1.3600
The British pound has moved to a new 2017 trading high against the U.S dollar for the fourth consecutive day, hitting 1.3600, following comments from BOE member Gertjan Vlieghe.
Active MPC voting member Vlieghe spoke of the need for the BOE to raise interest rates in the coming months, causing the GBPUSD pair to move to its highest trading level, since June 2016.
Going forward, the GBPUSD pair remains strongly bullish in the medium-term after a key technical break through above the pairs 100-week moving average, found at the 1.3401 level.
Key technical resistance above the 1.3600 level is located at 1.3620, 1.3652 and 1.3680.
Key GBPUSD technical support is found at the recent swing price lows, located at 1.3567 and 1.3536.
The January 2009 price low, offers further historical support, at 1.3503, as does the pairs 100-week moving average, at 1.3401.