The British pound has advanced towards the 1.3000 level against the US dollar, with the pair now on the cusp of a major technical breakout. Buyers need to hold price above the 1.2988 level to maintain the upside momentum for a pending breakout towards 1.3100. At present, only a daily price close under the 1.2930 level can negate the bullish intraday outlook surrounding the GBPUSD pair.

The GBPUSD pair is bullish while trading above the 1.2930 level, key resistance is found at the 1.3000 and 1.3100 levels.

If the GBPUSD pair trades below the 1.2930 level, key support is found at the 1.2900 and 1.2880 levels.

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