The British pound continues to firm above the 1.2900 level against the US dollar, following a bullish weekly and monthly price close. Technical analysis shows that GBPUSD buyers have the upper hand while price closes above the 1.2890 level on a daily basis. Risk-averse traders may await a move above the 1.3000 level in order to confirm a range break and a potential push towards the 1.3200 resistance level.
• The GBPUSD pair is bullish while trading above the 1.2890 level, key resistance is found at the 1.2960 and 1.3000 levels. • If the GBPUSD pair trades below the 1.2890 level, key support is found at the 1.2850 and 1.2820 levels.