GBPUSD 1.2850 level in focus
The British pound has moved back towards the 1.2850 level against the US dollar after the pair received a strong technical rejection from the 1.2900 resistance level. The 1.2810 level now offers the strongest form of technical support prior to the 1.2720 level. Going forward, a break above the 1.2925 level is needed to encourage a technical test of the psychological 1.3000 level.
If the GBPUSD pair trades below the 1.2850 level, key support is found at the 1.2810 and 1.2770 levels.
If the GBPUSD pair trades above the 1.2850 level, key resistance is found at the 1.2900 and 1.2925 levels.