The British pound is firming above the 1.2940 level against the US dollar
as the greenback comes under a fresh round of selling pressure. A sustained break above the 1.2960 resistance level
exposes a potential technical test of the psychological 1.3000 level. Once above the 1.3000 level, the GBPUSD
pair could quickly trade higher, with the 1.3200 resistance level
the medium-term objective.
• The GBPUSD
pair is bullish
while trading above the 1.2900 level, key resistance is found at the 1.2960 and 1.3000 levels.
• If the GBPUSD
pair trades below the 1.2900 level, key support is found at the 1.2880 and 1.2850 levels.