The British pound has continued to recover higher against the US dollar this morning, placing the 1.3170 resistance level back into focus. Sustained gains above the 1.3135 level should help encourage buyers to test towards the GBPUSD pairs former weekly trading high. Only a move under the 1.3100 level would be considered bearish in the short-term for the GBPUSD pair at this stage.
The GBPUSD pair is only bullish while trading above the 1.3100 level, key resistance is found at the 1.3170 and 1.3230 levels.
The GBPUSD pair is only bearish while trading below the 1.3100 level, key support is found at the 1.3000 and 1.2960 levels.
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