GBPUSD BUYERS NEED TO BREAK 1.2866 LEVEL
The British pound is attempting to correct higher against the US dollar after sellers failed to break below the key 1.2785 support level. GBPUSD buyers now need to move price above the 1.2866 level to change the intraday bias surrounding the pair to bullish. Sterling traders await key inflation data from the United States economy and next directional move in the US dollar index.
The GBPUSD pair remains bearish while trading below the 1.2866 level, key support is found at the 1.2800 and 1.2785 levels.
If the GBPUSD pair moves above the 1.2866 level, buyers are likely to test towards the 1.2900 and 1.3055 resistance levels.