GBPUSD recovery underway
The British pound has started to recover above the 1.2900 level against the US dollar after critical long-term technical support held firm. GBPUSD bulls may target the 1.2960 level before a meaningful technical pullback in the pair occurs. The 1.2840 support level is seen as a potential level that sellers may target if a short-term correction in the GBPUSD pair does occur.
The GBPUSD pair is only bearish while trading below the 1.2840 level, key support is found at the 1.2770 and 1.2750 levels.
The GBPUSD pair is only bullish while trading above the 1.2840 level, key resistance is found at the 1.2960 and 1.3000 levels.