Pound Jumps Against US Dollar, favoring the upside

The British pound jumped against the US dollar to post strong gains within a bullish path that we expected in the previous analysis, touching our awaited target of 1.3000, reaching the highest level at 1.3000.

Technically, the SMA 50 favors a bullish bias as the pair continues to receive positive signals from RSI on short time frames.

The bullish scenario will remain intact, provided the breach of 1.3000 is confirmed, targeting 1.3030, then 1.3065, gains may extend later to 1.3110.

On the downside, continuing trading below 1.2920 negates the bullish scenario and puts the price under negative pressure, targeting directly a retest of the critical support 1.2860, then 1.2820.

S1: 1.2925	R1: 1.3025
S2: 1.2860	R2: 1.3065
S3: 1.2820	R3: 1.3125