The British pound is trading around the 1.3050 level against the US dollar, following the release of positive UK macroeconomic data on Tuesday. A bullish triple-bottom pattern formation is currently in play across the lower time frames and supporting the bid in GBPUSD. A breakout above the former weekly trading high could see the GBPUSD pair advancing towards the 1.3190 level.
The GBPUSD pair is only bullish while trading above the 1.3100 level, key resistance is found at the 1.3190 and 1.3250 levels.
The GBPUSD pair is only bearish while trading below the 1.3100 level, key support is found at the 1.2960 and 1.2900 levels.
