GBPUSD building bullish momentum
The British pound continues to build bullish momentum against the US dollar, with price holding firmly above the 1.2600 support level. Buyers now need to move price above the neckline of the large head and shoulder pattern and surpass the former weekly trading high. If the GBPUSD pair is technically rejection around the 1.2660 resistance level, sellers will likely push price back towards the 1.2600 level.
The GBPUSD pair is bullish while trading above the 1.2600 level, buyers may test towards the 1.2660 and 1.2700 levels.
If the GBPUSD pair is rejected from the 1.2660 level, sellers will likely test the 1.2630 and 1.2600 support levels.