Having slipped from the yearly high the previous day, mainly due to Fed Chair Powell's speech, GBPUSD regains upside momentum while attacking the late-December 2019 peak of 1.3284. Not only the pair's pullback from the exact multi-week top but oversold RSI conditions also warrant the bulls to remain cautious ahead of the BOE Governor Andrew Bailey's speech in Jackson Hole Symposium. The BOE boss has been bearish off-late and may avail the opportunity to show worries concerning Brexit and furlough scheme, which in turn drag the quote towards a 21-day SMA level of 1.3110. However, any downside becomes less worrisome until staying above 1.3055 level comprising an ascending trend line from mid-April.
Meanwhile, any upbeat comments from the British banker will be enough to break 1.3284 and probe the 1.3300 threshold. The same becomes the gate-pass for the further bull-run targeting the year 2019 top around 1.3515. During the run-up, March 2019 peak surrounding 1.3380 can offer an intermediate halt.