The British pound sterling is posting gains after a rebound from the trendline.
Prices remain confined within the ascending wedge pattern. A breakout above the previous highs could confirm further upside.
For the moment, price action is likely to range within the ascending wedge pattern.
The trend line is currently being tested and a close above this level could signal further gains.
However, if the price retreats near the trend line, then this will open the risk to the downside.
A break down from the ascending wedge pattern will open the way for the GBPUSD to test the 1.3500 level next.