The British pound has staged a strong rally against the US dollar currency after the Bank of England kept voted to keep interest rates unchanged. The 1.3170 resistance level is the next major target for GBPUSD bulls if they can gain traction above the 1.3100 level. Traders should also note that the US dollar index is coming under pressure across the board after failing to move above its 200-day moving average.
The GBPUSD pair is only bullish while trading above the 1.3100 level, key resistance is found at the 1.3170 and 1.3230 levels.
The GBPUSD pair is only bearish while trading below the 1.3100 level, key support is found at the 1.3000 and 1.2960 levels.
