The British pound is starting to test close the 1.3000 level against the US dollar currency, following a major counter rally from the 1.2860 level yesterday. The fundamentals are likely to dictate the GBPUSD pairs technical developments today, due to the upcoming Brexit negotiations at the EU Finance Ministers meeting. Dip-buyers are likely to remain in control while price trades above the 1.2980 support level.
If the GBPUSD pair trades above the 1.2960 level, key resistance is found at the 1.3030 and 1.3140 levels.
The GBPUSD pair is only bearish while trading below the 1.2960 level, key support is found at the 1.2930 and 1.2860 levels.
