The British pound has surged to its highest trading level against the US dollar since November 2018, after bulls easily broke through the 1.3030 resistance barrier on Wednesday. The GBPUSD pair now trades above its 200-day moving average and faces a key challenge from the 1.3095 resistance level. If bulls can move price above the 1.3095 level, further upside towards the 1.3170 level seems possible.
The GBPUSD pair is strongly bullish while trading above the 1.3030 level, key technical resistance is now found at the 1.3095 and 1.3170 levels.
If the GBPUSD pair falls under the 1.3030 level, a decline towards the 1.2990 and 1.2940 levels may occur.
