GBP/USD Breaks Above 1.34 to One-Year Highs at 1.3431

GBP/USD extended its recovery from the 1.3139 low, breaking decisively above the key 1.3400 resistance on July 10 to reach fresh one-year highs near 1.3431. The pair had consolidated after testing 1.3410 resistance on July 8 before buyers regained control amid a weaker US dollar and easing UK political concerns. Earlier analyses flagged an incomplete bearish Elliott Wave toward 1.252-1.295, yet the sustained advance past 1.3320 and 1.3391 kept medium-term bullishness intact above 1.3008. A decisive break of 1.3459 is still required to confirm the end of the correction from 1.3867.