GBPUSD recently reversed up from the support area located at the intersection of the support level 1.29000 (low of the previous impulse wave (1)), lower daily Bollinger Band and the 50% Fibonacci correction of the previous sharp upward impulse (C) from October. With the moderate bullish Sterling sentiment seen across the markets today, GBPUSD is likely to rise further toward the next resistance level 1.30700 (high of the previous short term correction from the start of February) – from where the price is likely to correct down.