GBPUSD Ready to rally
The British pound has moved back towards the 1.3000 level against the US dollar currency, as dip-buying interest for sterling remains strong. Technical analysis shows that multi-day stabilization above the 1.3000 level could provoke the GBPUSD pair to rally towards the 1.3140 level. Overall, weakness in the US dollar index is likely to provoke more intraday GBPUSD strength.
If the GBPUSD pair trades above the 1.3000 level, key resistance is found at the 1.3060 and 1.3140 levels.
The GBPUSD pair is only bearish while trading below the 1.3000 level, key support is found at the 1.2950 and 1.2900 levels.