GBPUSD Surges to a 6-Week High

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The pound sterling is on track for a bullish continuation.

After clearing the key price level near 1.2643, GBPUSD is likely to continue the uptrend.

This puts cable within reach of testing the 1.2813 level in the near term.

Any short term corrections will, however, push GBPUSD back to the 1.2643 level of support.

As long as this level holds, GBPUSD is poised to the upside.

We could expect prices to retreat after testing the 1.2813 level on profit-taking.

Overall, we expect the currency pair to maintain its range within the said levels for the moment.

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