GBPUSD neutral bias

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.