GBPUSD FADES FROM KEY RESISTANCE
The British pound has fallen from key resistance against the US dollar after economic data from the United Kingdom economy provided a mixed picture. The GBPUSD pair had been steadily rising during the European trading session, as the greenback started to turn lower. Sellers need a sustained break of the 1.2900 support level, while buyers will need to hold price above the 1.2955 resistance level.
The GBPUSD pair is only bearish while trading below the 1.2900 level, key support is found at the 1.2863 and 1.2802 levels.
If the GBPUSD pair moves above the 1.2955 level, buyers are likely to target the 1.2985 and 1.3040 resistance levels.