GBP/USD makes another attempt at 1.3000 as UK gets new PM

GBP/USD made another attempt at 1.3000 but remains unable to consolidate above the psychological levels amid news that UK PM Cameron said he would officially resign on Wednesday, making way for Theresa May.

GBP/USD revisited daily highs at the 1.3015 zone, but failed to hold and slipped to the 1.2990 zone, where it trades, 0.35% above its opening price.

The pair rose sharply from session lows earlier amid news that Andrea Leadsom had pulled out of the race, leaving May as UK's Conservative party leader and Prime Minister.

GBP/USD levels to watch

In terms of technical levels, immediate supports are seen  at 1.2849 (Jul 11 low), 1.2797 (31-year low, Jul 6) and 1.2700 (psychological level). On the other hand, resistances line up at 1.3045 (Jul 7 high), 1.3119 (Jun 27 low) and 1.3140 (10-day SMA).