The British pound sterling staged a strong move to the upside.
As a result, price action closed above the 1.3122 level for the first time since early September this year.
The quick pullback saw the 1.3122 level being tested for support successfully. This opens up the upside for the GBPUSD.
The next main target will be the 1.3300 handle.
We could expect price action to maintain a sideways range within the said levels for the near term.
In the event of the GBPUSD losing the 1.3122 support, then further declines could push price action back toward the 1.3000 level once again.