GBPUSD (1.3158): The GBPUSD currency pair extended the gains following the rebound off the 20 periods EMA on the 4-hour chart. Price action is expected to inch higher toward 1.3205 which remains the main target for now. A retest of the resistance level here could potentially keep the cable within the range until a breakout emerges. Further gains can be anticipated on a breakout above the resistance level. To the downside, the support at 1.3036 is expected to hold.
