GBPUSD - Optimism in the air

GBPUSD (1H) - short term bullish bias

After a few days of sideways action, the British pound resumes its movement on the upside. Sellers have failed to push below the psychological level of 1.3100, and instead let buyers establish a stronghold above 1.3130. This allowed the over-shot RSI to get back to the neutral zone and ready for the next rally. As we speak, the break above 1.3180 is a sign that buyers have retaken control, a bullish MA cross will be the final confirmation that pre-election optimism has yet to fade.

Key support: 1.3130
Key resistance: 1.3270