The British pound has broken sharply to the upside against the US dollar after moving past the technically important 1.2960 level. The 1.3060 level is now the next major bullish target if the GBPUSD pair continues to gain traction above the 1.3000 support level. Overall, traders may look to fade the latest move higher in the GBPUSD pair if price reaches the 1.3060 to 1.3100 resistance area.
The GBPUSD pair is only bearish while trading below the 1.2960 level, key support is found at the 1.2900 and 1.2840 levels.
The GBPUSD pair is only bullish while trading above the 1.2960 level, key resistance is found at the 1.3060 and 1.3100 levels.
