• The GBP/USD pair surged strongly on Monday as the world stocks market recovered and increased demand for European currencies supported British pound.
   
• The Pound advanced up to 1.4291 after US market opened, but after a slight dip paused to trade around 1.4281 levels.
   
• Currently the pair is trading around 1.4284 levels , it is set to advance further towards 1.4300 and later 1.4320 level in the short term.
   
• To the upside, the strong resistance can be seen at 1.4290, a break above this level would expose the cable to next resistance level at 1.4348 levels.
   
• To the downside strong support can be seen at 1.4250, a break below at this level will open the door towards next level at 1.4200.
  
  Resistance levels
  
  R1:  1.4290 (Daily high)  
  
  R2: 1.4348 (38.2 % Retracement level)   
  
  R3: 1.4426 (March 31st high)
  
  Support Levels
  
  S1: 1.4250 (50 % Retracement level)       
  
  S2: 1.4200 (Psychological levels)
  
  S3: 1.4150 (61.8% Retracement level)