GBP/USD recovers from 1.4600 level to turn positive at 1.4650

In the last one-hour or so, the GBP/USD pair gained traction, lifting the pair to a two-week high level of 1.4663 before retracing few pips to currently trade near the mid-point of 1.4600-1.4700 handle.

Receding fears of a 'Brexit' continues to boost the overall bullish sentiment surrounding the GBP/USD pair, which remains an exception to the recent broad theme of US Dollar strength.

Further in absence of any major release from the US and UK economic docket, global risk-on sentiment assisted the pair to recovery from its early dip to 1.4600 handle and move to session high level of 1.4663. However, fresh offers near 2-week high level hindered the pair's bullish momentum. Should the pair extend its bullish momentum and break through 1.4660-65 resistance, it seems set to further extend its upward trajectory.

Technical levels to watch

Above 1.4660-65 resistance, the bullish momentum seems to assist the pair to surpass 1.4700 handle and head towards testing the multi-month high level of 1.4770, earlier tested in the beginning of the month.

Meanwhile on the downside, 1.4600 round figure mark might continue to extend immediate support for the pair, below which the pair seems to pierce through 1.4550-45 intermediate support and test 20-day SMA support near 1.4500 psychological mark.