GBPUSD bullish bias above 1.3095

The British pound has risen sharply high against the US dollar as speculation continues to grow that the UK will delay its departure from the European Union. The GBPUSD pair now has a strong intraday bullish bias while trading above the 1.3095 level and may soon target the 1.3200 resistance area. Traders should note the four-hour time frame shows the potential formation of a bullish inverted head and shoulders pattern.

The GBPUSD pair has a strongly bullish bias while trading above the 1.3095 level, key technical resistance is found at the 1.3160 and 1.3200 levels

If the GBPUSD pair trades below the 1.3095 level, sellers may test towards the 1.3050 and 1.3000 support levels.