The British pound continues to hold major technical support against the US dollar, which is a strong signal that the pair intends to trade higher. A break above the 1.3000 level exposes a potential upside rally in the GBPUSD pair towards the 1.3100 resistance level. A loss of the 1.2940 support level could create a tremendous GBPUSD buying opportunity around the 1.2880 support level.
The GBPUSD pair is bullish while trading above the 1.2840 level, key resistance is found at the 1.3000 and 1.3100 levels.
If the GBPUSD pair trades below the 1.2940 level, key support is found at the 1.2880 and 1.2840 levels.