GBP/USD edging higher but yet to reclaim 1.28

As mentioned in a previous update looking at the recent price action in the EUR/USD, the same observation can be made for the GBP/USD. The most recent price action in the GBP/USD has also been characterised by a series of higher lows since January 11. If you look at a chart you will see what I am talking about. The short term upward trend has also been helped by the price action in the EUR/GBP. That is not bouncing and remains under a degree of pressure. The GBP/USD closed on Friday at 1.2753. so as you can see, it is not much removed from that level right now this morning. The range seen so far today has been covered by 1.2729 to 1.2765. All the while it remains above 1.2720 the price action looks supportive for more upside, but that 1.28 handle has remained elusive, since being unable to reclaim levels above, not seen since December 28. The GBP/USD is currently trading at 1.2755