The British Pound started a decent increase from the 1.4100 support zone against the US Dollar. The GBP/USD pair climbed above 1.4120 to move into a positive zone.
GBP/USD is trading closer to 1.42 after the BOE's Haldane called on cutting back stimulus amid a roaring economy. Earlier, Brexit acrimony and concerns about the reopening pressured the pound.
The currency pair is benefiting from upside momentum and has managed to break above a connecting bearish trend line with resistance near 1.4155 on the hourly chart. The pair is now trading above the 1.4155 . However, it remains capped under a downtrend resistance line and has yet to set a higher high.
Some support is at 1.4140, the daily low, followed by 1.4110 and 1.4080, both support lines in recent days. Looking up, downtrend resistance is at 1.4180, and the round 1.42 line follows. Further above, 1.4220 and 1.4250 are eyed.
