The pound not only stabilized after disappointing UK data, but managed to print fresh highs. Still, the speculations about a BOE rate cut are limiting the pounds' advance.
The main scenario assumes a move towards 1.3110.
An alternative scenario is a bounce off the 1.3080 resistance.
We expect to see renewed bullish pressure and a move through 1.3080 towards 1.3110.
After a close below 1.3070 we could see GBP/USD extend its decline down to 1.3020.