The British pound has moved to a fresh six-week trading high against the US dollar
, with the pair moving above the psychological 1.3000 level. Buyers need to hold price above the 1.3000 level to maintain the bullish
medium-term range breakout. The GBPUSD
pair could easily advance towards the 1.3100 level at this stage, with the 1.3200 level the ultimate upside objective.
• The GBPUSD
pair is bullish
while trading above the 1.2960 level, further upside towards the 1.3100 and 1.3150 levels appears possible.
• the GBPUSD
pair trades below the 1.2960 level, key support is found at the 1.2940 and 1.2900 levels.