GBPUSD (1.3031): The British pound posted strong gains after technical set up from the ascending triangle saw price action breaking past 1.2928. In the near term, the GBPUSD is likely to retest the breached resistance level. Establishing support at this level could indicate further gains to the upside. The next main resistance level is seen at 1.3205 which could be tested in the near term. To the downside, a close below 1.2928 could, however, signal a decline back with GBPUSD likely to trade within the range of 1.2928 and 1.2808.
