The British pound is testing towards the 1.3100 level against the US dollar, following a bullish breakout above the 1.3065 resistance level. The GBPUSD pair could easily test towards the 1.3180 level now that the bullish range breakout has occurred. Traders should also note that a bullish double-bottom pattern formation is also in play after sellers failed to break the 1.2965 support level.
The GBPUSD pair is only bullish while trading above the 1.3065 level, key resistance is found at the 1.3100 and 1.3180 levels.
The GBPUSD pair is only bearish while trading below the 1.3065 level, key support is found at the 1.2965 and 1.2900 levels.
