The British pound is attempting to recover higher against the US dollar after finding interim technical support from the 1.2970 level. The four-hour time frame is showing that GBPUSD buyers are now testing back towards bearish breakout area of the wedge pattern. If buyers move price back inside the pattern, the 1.3035 level offers the strongest area of technical resistance.
The GBPUSD pair only heavily bearish while trading below the 1.300 level, key support is found at the 1.2970 and 1.2940 levels.
If the GBPUSD pair trades above 1.3000 level, key intraday resistance is found at the 1.3035 and 1.3060 levels.
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