The British pound is recovering above the 1.3000 level against the US dollar, following another failed attempt to break under key monthly support. The GBPUSD pair could start to rally back towards the 1.3180 resistance area if the 1.2965 level continues to be defended. Overall, unless the 1.2965 support level is broken traders should be very cautious towards GBPUSD short positions.
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.