On the hourly chart of GBP/USD at FXOpen, the pair found support near the 1.2815 zone. The British Pound even seems to be forming a base and attempting a recovery wave against the US Dollar.
The pair was able to clear a connecting bearish trend line with resistance at 1.2850 and the 50-hour simple moving average. It is now facing a hurdle near the 1.2900 zone. If there is a clear upside break above 1.2900, the pair could rise toward the 1.2960 level in the near term.
The next key resistance sits near the 1.3000 level, above which the GBP/USD pair might gain bullish momentum and revisit the 1.3050 zone.
On the downside, the first major support is near the 50-hour simple moving average at 1.2850. The next support is forming near the 1.2815 level, below which the pair might move lower toward 1.2750.
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