GBPUSD: Risk Points Higher On Trend Resumption

GBPUSD: The pair continues to retain its upside threats though with caution. Support lies at the 1.3100 level where a break will turn attention to the 1.3050 level. Further down, support lies at the 1.3000 level. Below here will set the stage for more weakness towards the 1.2950 level. Conversely, resistance stands at the 1.3200 levels with a turn above here allowing more strength to build up towards the 1.3250 level. Further out, resistance resides at the 1.3300 level followed by the 1.3350 level. On the whole, GBPUSD continues to face upside risk though with caution.

Strategy: Sell at 1.3108, Stop loss at 1.3040, Price target at 1.3201 & 1.3250