GBPUSD bullish triple-bottom

The British pound is trading around the 1.3050 level against the US dollar, following the release of positive UK macroeconomic data on Tuesday. A bullish triple-bottom pattern formation is currently in play across the lower time frames and supporting the bid in GBPUSD. A breakout above the former weekly trading high could see the GBPUSD pair advancing towards the 1.3190 level.

• The GBPUSD pair is only bullish while trading above the 1.3100 level, key resistance is found at the 1.3190 and 1.3250 levels. 

• The GBPUSD pair is only bearish while trading below the 1.3100 level, key support is found at the 1.2960 and 1.2900 levels.