The currency pair declined last week but reached 1,2980 resistance area on Friday due to stronger than expected UK manufacturing PMI.

This indicator reached 51,9, which was better than expected and stronger than previous reading. We have mentioned in our EUR/USD review that US data was weak.

The currency pair is likely to test the resistance at 1,2980. If it breaks it out, we will see a new uptrend. Otherwise, GBP/USD will develop a downtrend.