Highlights

• GBP/USD has been rising on vaccine and Brexit optimism.

GBP/USD has hit a fresh two-month high. From a technical perspective, a sustained move beyond the 1.33 horizontal resistance might have already set the stage for additional gains in the early sessions.

However, any subsequent move up is more likely to meet resistance near the top barrier of a short-term ascending trend channel. The mentioned barrier is near the 1.3400 round figure mark region.

The pair might then surpass the 1.3400 mark and aim towards testing September daily highs, around the 1.3480 region and then testing the key 1.3500 psychological mark.

On the flip side, the 1.330 resistance breakpoint now seems to support the immediate downside and is followed by support near the 1.311 region. A convincing breakthrough at 1.330 will turn the pair vulnerable to accelerate the slide further to the 1.311 region.