GBPUSD bullish above 1.3140

The British pound has moved towards the monthly high against the US dollar currency, following a major breakout above the 1.3140 level. The short-term trend surrounding the GBPUSD pair remains bullish while price holds above the 1.3140 level, placing the 1.3180 and 1.3250 levels in focus. If a false breakout above the 1.3140 level takes place, the GBPUSD pair could fall towards the 1.3040 area.

• The GBPUSD pair is only bearish while trading below the 1.3140 level, key support is found at the 1.3040 and 1.2900 levels. 

• The GBPUSD pair is only bullish while trading above the 1.3140 level, key resistance is found at the 1.3180 and 1.3250 levels.