The British pound is looking increasingly bullish against the US dollar, following a major range breakout above the 1.3000 resistance level. If GBPUSD bulls can hold price above the 1.3000 support level then further gains towards the 1.3140 level seem possible. Traders should note that Brexit negotiations this week could cause sudden pullbacks in the GBPUSD pair.
If the GBPUSD pair trades above the 1.3000 level, key resistance is found at the 1.3100 and 1.3140 levels.
The GBPUSD pair is only bearish while trading below the 1.3000 level, key support is found at the 1.2950 and 1.2900 levels.
