The British pound is testing the key 1.3100 resistance level against the US dollar as the greenback comes under selling pressure across the board. If GBPUSD bulls can hold price above the 1.3100 level, further upside towards the 1.3160 level appears likely. The MACD indicator is also starting to trend higher, which could signal more near-term gains for the GBPUSD pair.
If the GBPUSD pair trades above the 1.3100 level, key intraday resistance is found at the 1.3160 and 1.3200 levels.
If the GBPUSD pair trades under the 1.3060 level, key intraday support is found at the 1.3000 and 1.2980 levels.
