The British pound has continued its breakout up move against the US dollar currency during the European session as the pair pushes towards the 1.3200 level. Higher time frame analysis shows that the 1.3400 level is a possible target if the 1.3200 level is broken. Any dips towards the 1.3090 area are likely to be seen as a buying opportunity to enter into the larger bullish trend.
If the GBPUSD pair trades above the 1.3090 level, key resistance is found at the 1.3200 and 1.3400 levels.
The GBPUSD pair is only bearish while trading below the 1.3090 level, key support is found at the 1.3060 and 1.2950 levels.