GBPUSD Steady at a Four-Month High

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The British pound sterling is maintaining its steady winning streak, as price rose to a fresh four-month high on Wednesday.

After a brief move above the 1.3000 level, GBPUSD is retreating.

If the declines continue, the rising trend line could be tested for support. A close below this trend line might however signal a move lower.

The price level near 1.2813 will be the prime level to establish support. But this would mean that on a rebound, GBPUSD will have to breakout higher above the 1.3000 level.

To the upside, the next main resistance level is found at 1.3122.

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