The movement of GBPUSD towards 1.2980 price line is yet another test of the line it reached numerous times in the past. We could expect this test to happen in the next 2 days, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to current lines.
Supports and resistances are primary concepts of technical analysis. GBPUSD is heading for an important price of 1.2980 – read about what this could mean for the future.
