GBP/USD surges to near 3-month tops, around 1.43 handle

   •  A modest USD weakness helps build on the recent upsurge.
   •  Technical buying above March highs provides an additional boost.
   •  Bulls might now be prompted to take some profits off the table.

The GBP/USD pair broke out of its Asian session bullish consolidation phase and spiked to near 3-month tops, closer to the 1.43 handle in the last hour.

The pair's latest leg of sharp up-move of nearly 80-pips from an intraday low level of 1.4221 lacked any obvious catalyst and could be attributed to a weaker tone surrounding the US Dollar, which remains on the defensive in wake of the recent US-China trade tensions and possibility of a US-led missile strike on Syria.

Meanwhile, possibilities of some short-term trading stops being triggered on a move beyond March highs resistance near the 1.4245-50 region seems to have further collaborated to the pair's sudden spike over the past couple of hour. 

Bulls now seemed taking some breather near the 1.4300 and in absence of any major market moving economic releases from the UK, traders might be prompted to take some profits off the table ahead of the weekend and especially after this week's strong upsurge of near 225-pips. 

Later during the early NA session, the release of Prelim UoM Consumer Sentiment and JOLTS Job Openings data from the US would now be looked upon for some fresh trading impetus on the last day of the week. 

Technical levels to watch

A convincing move beyond the 1.4300 handle has the potential to continue lifting the pair further towards retesting post-Brexit highs resistance near the 1.4345 area, touched in Jan. On the flip side, the 1.4250-45 zone now becomes an immediate support to defend, which if broken might prompt some fresh long-unwinding trade and drag the pair back below the 1.4200 handle towards 1.4180-75 support area.