The currency pair developed its uptrend along the ascending trend line last week due to positive data from UK.

Average Earnings index was better than forecasted and remained at 3,2%. As for the Claimant Count change, it had not changed and was also better than forecasted. Friday’s PMIs data releases were green.

The currency pair stays close to the ascending trend line and is able to test it this week. If GBP/USD breaks it down, the currency pair is able to reach the closest support at 1,2980. Otherwise, we will see GBP/USD moving towards the resistance at 1,3232.