The British pound is trading around the 1.3120 resistance level against the US dollar, as the recovery from the 1.2900 support level gathers pace. Overall, the GBPUSD pair could be preparing for a major test of the 1.3155 resistance level. GBPUSD sellers may look to sell from this area, while GBPUSD bulls will be looking for a rally above the 1.3155 level towards the 1.3375 area.
- The GBPUSD pair is only bullish while trading above the 1.3070 level, further upside towards the 1.3155 and 1.3200 levels then seems possible.
- If the GBPUSD pair trades below the 1.3070 level, key support is found at the 1.3055 and 1.3000 levels.
