The GBPUSD pair remains biased to the upside as it faces recovery higher threats. Support lies at the 1.2900 level where a break will turn attention to the 1.2850 level. Further down, support lies at the 1.2800 level.

Below here will set the stage for more weakness towards the 1.2750 level. Conversely, resistance stands at the 1.2950 levels with a turn above here allowing more strength to build up towards the 1.3000 level. Further out, resistance resides at the 1.3050 level followed by the 1.3100 level. On the whole, GBPUSD continues to face upside risk on correction higher.

 

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