The British pound is trading around the 1.3000 level against the US dollar on Tuesday after finding strong technical support from the 1.2965 level. Traders should be cautious as a bullish double-bottom may have formed as traders defended the 1.2900 level. Failure to gain traction above the 1.3000 level is likely to result in another technical test of the current weekly trading low.
The GBPUSD pair is only bullish while trading above the 1.3180 level, key resistance is found at the 1.3200 and 1.3220 levels.
The GBPUSD pair is only bearish while trading below the 1.3180 level, key support is found at the 1.2965 and 1.2900 levels.
