The British pound has started to rally above the 1.3000 level against the US dollar, following the recent range breakout earlier this week. The GBPUSD pair is now likely to target the 1.3100 resistance, although the rally could easily reach the 1.3200 level. Overall, watch out for continued weakness in the greenback and positve UK election news to support the GBPUSD pair.
The GBPUSD pair is bullish while trading above the 1.3000 level, further upside towards the 1.3100 and 1.3200 levels appears possible.
the GBPUSD pair trades below the 1.3000 level, key support is found at the 1.2960 and 1.2940 levels.
