The British pound is testing towards the 1.2900 level against the US dollar as the recovery from the 1.2800 support level gathers pace. Bulls need to move price above the 1.3075 level to convince traders that the recent technical correction in GPBUSD is over. The 1.3030 resistance level is the next major hurdle if bulls start to hold price above the psychological 1.3000 level.

  • The GBPUSD pair is only bullish while trading above the 1.3075 level, further upside towards the 1.3100 and 1.3150 levels then seems possible.
  • If the GBPUSD pair trades below the 1.3075 level, key support is found at the 1.2900 and 1.2800 levels.