GBP/USD still has more upside potential?

As you surely know on Friday April 4, the GBP/USD rose to a new 2025 high, at 1.3207. The fall back from there took it close to 1.2700. That relapse was as much about a rise in the EUR/GBP as it was about an interim rebound in the dollar. Well, as you can see, that dollar rebound did not hold and the EUR/USD busted above 1.1214. The USD/JPY sank from above 148 and both those moves have helped the GBP/USD back above 1.31. That said, the Pound is still lagging both the Yen and the Euro and most especially the Euro. The GBP/USD closed in the US on Friday at 1.3087. The range seen so far today has been covered by 1.3041 to 1.3138 and it is right now very close to session highs. The risks of a push to test that April 4 high seen live and once again the reader is reminded of the key level behind that, at 1.3434. That is the next level if 1.3207 gets taken out. On the downside a fall below 1.27 from now could be a game-changer in the other direction. The GBP/USD is right now at 1.3141