GBPUSD Targeting 1.3300
The British pound has rallied to a new monthly trading high against the US dollar currency, due to bullish news surrounding Brexit negotiations. Technical analysis shows that a major range break has now occurred, placing the 1.3300 resistance level in focus as a possible upside target. Overall, the GBPUSD pair is expected to strengthen while price trades above the 1.3000 support area.
If the GBPUSD pair trades above the 1.3000 level, key resistance is found at the 1.3200 and 1.3300 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.