GBPUSD Pares Losses As Price Approaches 1.3000

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The British pound sterling is holding a steady pace of gains since last week’s reversal, just near the 1.2800 handle.

With the current bullish momentum, price action could be reaching for the 1.3000 handle next.

But if resistance puts a lid on the gains, then we expect the cable to enter a sideways range within the said levels.

To the upside, a strong close above 1.3000 is required to confirm further gains.

The main key risk for the GBPUSD will be the data-heavy week alongside the BoE meeting later on Thursday.

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