On the GBPUSD daily chart, we can see that the pair is testing the strong upside support 1.3000 level. Bounce off here is needed for the upside continuation and another retest of the 1.3300 level. A daily close below this level will open the downside reversal scenario and a downside extension into the 1.2760 level.
Note: look for the long/short trades based on the price action
