The British pound has moved to a fresh six-week trading high against the US dollar, with the pair moving above the psychological 1.3000 level. Buyers need to hold price above the 1.3000 level to maintain the bullish medium-term range breakout. The GBPUSD pair could easily advance towards the 1.3100 level at this stage, with the 1.3200 level the ultimate upside objective.
The GBPUSD pair is bullish while trading above the 1.2960 level, further upside towards the 1.3100 and 1.3150 levels appears possible.
the GBPUSD pair trades below the 1.2960 level, key support is found at the 1.2940 and 1.2900 levels.
