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.