The British Pound reached the key resistance level at 1.4240, the highest level since April 2018. If we break above it, the GBPUSD currency pair will likely keep rising as bulls target the next resistance at 1.43. On the monetary policy front, BoE governor Bailey is scheduled to speak late in the day, and this might well be the catalyst needed for the breakout. But wait for the breakout! Because if traders already priced in the full reopening of the UK economy, scheduled for next week, then expect a quick reversal in this choppy market.

Support: 1.4210 / 1.4170
Resistance: 1.4240 / 1.43

Risk Warning: 79% of retail CFD accounts lose money

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