The British pound sterling is on a rebound after price lost the 1.3000 handle late on Tuesday.

With the dollar trading softer, this has helped the pound sterling to recover some of the losses.

However, it will be interesting to see how GBPUSD reacts to the 1.3000 handle.

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A strong close above this level could confirm further gains. The next main resistance level above 1.3000 is the 1.3122 level.

Alternately, if prices fail to rise above the 1.3000 handle, then GBPUSD could be looking to push lower.

Following a breakdown below the recent swing low near 1.2887, the next lower support level is seen at 1.2750.


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