GBPUSD recently reversed up from the pivotal support level 1.35400 (former top of the impulse wave 1 from the start of last month) – standing near the 38.2% Fibonacci correction of the previous upward impulse from the middle of December. The latest upward reversal from the support level 1.35400 is the 5th consecutive daily reversal from this price level – indicating its strength. Given the clear daily uptrend and the growing bearish USD sentiment seen across the FX markets today – GBPUSD is expected to rise further toward the next resistance level 1.37000 (top of the previous minor impulse wave (i) from the start of January).