The British pound is trading around the 1.3000 level against the US dollar after bouncing from trendline support around the 1.2960 level. The GBPUSD pair has a bullish triple-bottom pattern formation, which could provoke further short-term gains. A sustained decline below the important 1.2960 support level could see the GBPUSD pair falling towards the 1.2850 level this week.
The GBPUSD pair is only bullish while trading above the 1.3100 level, key resistance is found at the 1.3190 and 1.3250 levels.
The GBPUSD pair is only bearish while trading below the 1.3100 level, key support is found at the 1.2960 and 1.2900 levels.
