GBPUSD Targeting 1.3300
The British pound is starting to gain upside momentum against the US dollar currency after the pair easily broke past the 1.3200 resistance level. GBPUSD buyers may now start to target the 1.3300 resistance level, which would set a new monthly high for the pair. To the downside, a break under the 1.3160 level could expose the GBPUSD pair to a major sell-off under the 1.3100 level.
If the GBPUSD pair trades above the 1.3160 level, key resistance is found at the 1.3280 and 1.3300 levels.
The GBPUSD pair is only bearish while trading below the 1.3160 level, key support is found at the 1.3100 and 1.3060 levels.