The British pound sterling is once again attempting to breakout past the 1.3000 level of resistance.
However, prices are still being rejected above this level, as 1.3000 is proving a strong resistance level to break. This will most likely keep GBPUSD confined below this level for the moment.
The Stochastics oscillator is also a bit overstretched, which could signal a pullback in price action.
The minor support near 1.2850 remains the downside line in the sand for the cable.
A close below this level will open the way for GBPUSD to test the 1.2750 level of support next.
