Back on the Dec. 16, GBP/USD was the "Chart of the Day" as I warned the pair was set to squeeze higher. Yesterday, the same applied as the stock market—(S&P500)—closed at all time highs which could continue to squeeze higher, keeping downside pressure on the US dollar and allow for GBP/USD to finally reach the 1.3500 level we had targeted back on Dec. 15.
The additional note I would like to add is that the 50% retracement still resides at the 1.3500 level, but now the 161% extension of the Dec. 17 high to Dec. 20 lows also come in at 1.3500. That "confluence" may be targeted now.