The British pound sterling saw a bullish day in the markets. Price action rose to the 13 December 2019 highs of 1.3500 before pulling back.
This puts the GBPUSD to test a one year high. For the moment, the previously held resistance level of 1.34832 could hold as support.
But if the cable loses this support, then we expect prices to continue descending lower.
The next key support area will be back near the 1.3300 level. It would also put the GBPUSD back into the sideways range.