The British pound is holding above the 1.3000 level against the US dollar after staging an impressive rebound from the 1.2970 level. GBPUSD traders are now awaiting the release of inflation data from the United Kingdom economy later this morning. A breakout above the 1.3160 level could secure further gains towards the important 1.3200 technical region.
The GBPUSD pair is only bearish while trading below the 1.3000 level, key support is found at the 1.2960 and 1.2900 levels.
The GBPUSD pair is only bullish while trading above the 1.3000 level, key resistance is found at the 1.3060 and 1.3200 levels.