A narrow gap between Conservatives and Labour limited the pound's rally. The positive Manufacturing PMI failed to support the UK currency and only news from overseas helped the pound to reverse losses.
The main scenario is a break through 1.2950 and further growth afterwards.
An alternative scenario assumes a decline to the 1.2830 handle.
If bulls retain control they will be able to break 1.2950 and will reach the 1.3000 resistance in the coming sessions.
The spot may ease to 1.2830 after a я break below 1.2920.