The British pound sterling is trading stronger on Monday as price action managed to post a recovery.
This comes after cable-stayed flat since Wednesday last week.
The bullish follow-through after Friday’s doji candlestick pattern suggests some near term upside.
The key level for GBPUSD will be the 1.3000 handle.
A close above 1.3000 could open the way for price to rise to the 1.3035 level next.
In the medium term, we expect GBPUSD to hold steady within the 1.3000 level and the current lows near 1.2700.
