Despite the fact that there are no major economic reports in the UK and the US, GBPUSD continued its bullish trend. With the coming elections in Scotland and the events in Ireland, GBP may face some decline.
The support rests at 1.38220 with resistance at 1.39160. The weekly pivot point at 1.37840 is located below the lines. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The Stochastic is moving in high ranges, the RSI is moving in overbought area and the ADX is showing buy signal. The MACD indicator is in positive territory.
GBP bulls are pushing the price up towards 1.39300 but the decline is expected afterwards.