The British pound has moved to a new multi-month high against the US dollar currency, with the pair rallying towards the 1.3000 level. GBPUSD bears may take the pair back towards the 1.2785 level if the 1.3000 resistance level continues to hold firm. To the upside, a sustained breakout above the 1.3000 level could cause the GBPUSD pair to rally towards the 1.3090 level.
If the GBPUSD pair trades above the 1.2880 level, key resistance is found at the 1.3000 and 1.3090 levels.
The GBPUSD pair is only bearish while trading below the 1.2880 level, key support is found at the 1.2785 and 1.2740 levels.
