The British pound continues to advance to the upside against the US dollar, with the recent rally extending all the way to the 1.2930 resistance level. Overall, the short-term trend remains bullish while price continues to trade above the pivotal 1.2810 level. It also worth noting that we may be seeing a short-squeeze in the GBPUSD pair, ahead of today’s crucial Brexit vote in UK parliament.
The GBPUSD pair remains intraday bullish while trading above the 1.2810 level, key technical resistance is now found at the 1.2930 and 1.3000 levels.
If the GBPUSD pair trades below the 1.2810 level, we could see a decline towards the 1.2760 and 1.2660 support levels.
