100 hour MA is the next hurdle ahead.
The GBPUSD has done two bullish things in the current bar
- Held support at the Monday low at 1.2993 area
- Moved back above trend line resistance (moved above it on the initial surge higher but that move failed).
The 2 bullish things may be an indication that the sellers - who have kept this pair offered - may be throwing in at least part of the towel (for the time being at least).
Another sign of more upside potential would be if the price can get - and stay above the 100 hour MA. That MA is currently at 1.30568. Above that would be the high for the week at the 1.3090 level.