The British pound has made a strong upside move against the US dollar, following a confirmed breakout above the 1.2960 level earlier this week. Recent bullish price action surrounding the GBPUSD pair had informed traders that buyers could test above the 1.3000 level. Going forward, the 1.3100 and 1.3170 levels remain the key upside levels to watch while price trades above the 1.3000 level.
The GBPUSD pair is only bearish while trading below the 1.2960 level, key support is found at the 1.2900 and 1.2870 levels.
The GBPUSD pair is only bullish while trading above the 1.2960 level, key resistance is found at the 1.3060 and 1.3100 levels.