The British pound is attracting strong buying demand on pullbacks against the US dollar currency towards the 1.3300 support zone. Lower time frame analysis shows that a breakout above the 1.3400 level exposes the GBPUSD pair to further gains towards the 1.3510 level. According to the weekly time frame, the 1.3650 level currently offers the strongest for upside resistance.
If the GBPUSD pair trades above the 1.3310 level, key resistance is found at the 1.3510 and 1.3650 levels.
The GBPUSD pair is only bearish while trading below the 1.3310 level, key support is found at the 1.3230 and 1.3160 levels.
