The British pound is increasingly bullish against the US dollar currency in the short-term after the pair rallied towards the 1.3130 level yesterday. GBPUSD bulls need to set a new weekly and monthly high above the 1.3180 level to encourage more buying. Overall, a breakout above the pivotal 1.3130 level should encourage a technical test back towards the 1.3200 area.
The GBPUSD pair is only bearish while trading below the 1.3070 level, key support is found at the 1.3000 and 1.2960 levels.
The GBPUSD pair is only bullish while trading above the 1.3070 level, key resistance is found at the 1.3150 and 1.3180 levels.
