I noted that the pound is surging after the release of some jobs data:Sterling Pound (GDP) surging after good jobs data When we look at the reaction in GBP/USD, we can see that this rally is a significant one because it confirms the formation of a price bottom.GBP/USD Daily Chart 5/18(click to enlarge)Price respected a previous consolidation area as a support pivot. Now the pressure is back on the 1.4670 resistance area. A break above this line opens up 1.48 and then the 1.50-1.5050 area. But I would limit the bullish expectation to the 1.50-1.5050 area for now. I think ultimately in the medium-term, the FOMC is still going to be more hawkish than the BoE, which should keep the GBP/USD pressured. Also, although brexit fears have receded somewhat, they have not evaporated. We still have a little over a month until the referendum on June 23. Brexit or not? Five weeks to go and pollsters 'don't know'