• GBP/USD rebounded strongly on Tuesday after the anointing of interior minister Theresa May as British prime minister helping investors regain some risk appetite across markets.
   
• The pair also advanced on the view that Bank of England could take measures to protect Britain's economy from the fallout of last month's decision to leave the European Union following comments by Governor Mark Carney.
   
• Currently, the currency pair is trading around 1.3276 levels, it is set to advance further towards 1.3340 later towards 1.3400 levels in the short term.
   
• To the upside, the immediate resistance can be seen at 1.3296, a break above this level would expose the cable to next resistance level at 1.3398.
   
• To the downside, immediate support can be seen at 1.3213 a break below at this level will open the door towards next level at 1.3130.
  
  Resistance Levels
  
  R1: 1.3296 (38.2% Retracement level)    
  
  R2: 1.3398 (23.6% Retracement level)    
  
  R3: 1.3500 (Psychological levels)
  
  Support Levels
  
  S1: 1.3213 (50% Retracement level)                        
  
  S2: 1.3130 (61.8% Retracement level)
  
  S3: 1.3050 (June 12th lows)