On the hourly chart of GBP/USD at FXOpen, the pair started a decent increase above the 1.2850 resistance. The British Pound even cleared the 1.2900 barrier against the US Dollar.
The pair is now trading above the 1.2930 level and the 50-hour simple moving average. On the upside, the first major resistance is near 1.2965. If there is a clear upside break above the 1.2965 resistance, the pair could rise toward the 1.3000 level in the near term.
The next key resistance sits near the 1.3040 level, above which the GBP/USD pair might gain bullish momentum and revisit the 1.3200 zone.
On the downside, the first major support is near a connecting bullish trend line at 1.2930. The main support is forming near the 1.2850 level, below which the pair might move lower toward the 1.2760 support.
