GBPUSD On the rise
The British pound is starting to recover higher against the US dollar currency after a UK politician stated that the door is still open for further Brexit negotiation. Technical analysis shows that GBPUSD bulls may start to attack towards the 1.3140, due to a lack of selling interest below the 1.2900 level. Medium-term analysis suggests that the GBPUSD pair could surge towards the current 2020 trading high if the 1.3140 level is broken.
If the GBPUSD pair trades above the 1.2900 level, key resistance is found at the 1.3060 and 1.3140 levels.
The GBPUSD pair is only bearish while trading below the 1.2900 level, key support is found at the 1.2870 and 1.2850 levels.