The British Pound (GBP) trades near 1.3055 versus the US Dollar (USD) heading towards European open on today. The pair struggle to extend previous moves as investors await details of the meeting between the UK Prime Minister Theresa May and the EU Commission chief Jean-Claude Juncker.
The pair is now above the 61.8% retracement of the 1.3217/1.2772 slide at around 1.3050, up over 100 pips in the American session, both the Momentum and the RSI maintain their strong bullish slopes, while the price is far above a now bullish 20 SMA and a directionless 200 EMA, all of which favors an upward extension ahead. The risk, however, is as always uncertainty surrounding Brexit as failed talks between May and Juncker could result in the pair giving back all of its recent gains.

Support levels: 1.3050 1.3010 1.2970

Resistance levels: 1.3090 1.3140 1.3185