GBPUSD (1.3110): The GBPUSD currency pair managed to break out from the resistance level of 1.3054 – 1.3028 region. The upside bounce could potentially shift the bias to the upside. However, we expect a rebound back to the breached resistance to establish support. Forming support here could mean a possible rebound in price action. The resistance level at 1.3250 is likely to be the target to the upside. In the event of a failure to establish support, the cable could ease back below and settle into a range.
