The British pound continues its breakout move to the upside against the US dollar, as traders continue to shun the greenback amidst concerns about the global economy. The GBPUSD pair could test the 1.3280 level if a breakout above the 1.3200 level occurs. A rally towards the 1.3280 level would help form a large reversal pattern with over 500 points of upside potential.
The GBPUSD pair is only bearish while trading below the 1.3060 level, key support is found at the 1.3000 and 1.2960 levels.
The GBPUSD pair is only bullish while trading above the 1.3060 level, key resistance is found at the 1.3200 and 1.3280 levels.
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