GBPUSD bullish ahead of payrolls
The British pound is holding firm above the 1.2700 level against the US dollar ahead of the release of the May monthly jobs report from the United States economy. The four-hour time frame continues to show a valid inverted head and shoulders pattern with an upside target of around two-hundred points. Sellers need to move price under the 1.2655 support level to change the bullish intraday sentiment surrounding the GBPUSD pair.
The GBPUSD pair is strongly bullish while trading above the 1.2700 level, key resistance is located at the 1.2747 and 1.2817 levels.
The GBPUSD pair is only bearish while trading below the 1.2655 level, key intraday support is found at the 1.2630 and 1.2600 levels.