GBP/USD soars to test March highs

• Cable gains momentum despite US strength. 
• Pound among top performers rises sharply versus Euro.

The GBP/USD pair bounced sharply from 1.4143 and rose back above 1.4200. It broke on top of 1.4220 and peaked at 1.4238, the highest level in two weeks. The rally eased slightly below March highs. 

As of writing it was trading at 1.4225/30, holding a strong bullish tone. The pair continues with the upside bias that has been in place since last Friday. 

The US dollar is posting mix results while the pound is among the top performers supported by the strong slide in EUR/GBP. Against the euro, the pound is at the highest level since June 2017.

GBP/USD Levels to watch 

To the upside, immediate resistance is seen at 1.4245 (Mar 26 high), followed by 1.4275 and 1.4300. On the flip side, supports levels might now lie at 1.4215, 1.4180/85 and 1.4160. 

The key supports for the current bullish tone are 1.4085 (20-day moving average) and 1.3990/1.400 (uptrend line from November lows). On the other direction, a daily close significantly above 1.4250 would signal more gains ahead.