GBPUSD Hits a 1-Month High

The British pound sterling rose to a fresh one-month high, capping a three-day winning streak.

The gains come broadly on a weaker greenback, but the GBP is also bolstered by the ongoing Brexit trade talks.

Price action on the 4-hour chart resembles an inverse head and shoulder pattern.

With the neckline resistance at 1.3000 being cleared, further gains are likely.

As a result, we expect the GBPUSD to rally further with the minimum upside target around 1.3250. There is a possibility that the cable could once again test the 1.3300 level.

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