The GBP continues to trend higher against the USD

The dollar index gained 0.33pt to 97.003 on Friday after remaining under pressure for most of the week. The GBP/USD jumped 73 pips to 1.267 to post the largest intraday move. The pair remains inside an intraday bullish trend channel. If prices can remain inside the channel we should see a continuation of the uptrend towards the 1.277 area. A break below the lower rising trend line may force a test of 1.2635 support and 1.258 in extension.