GBPUSD 1.2960 still key

The British pound is gaining traction above the 1.2900 level against the US dollar as the greenback remains under wide- spread selling pressure. The 1.2960 level remains key and could be an area traders book profit after the recent 200 pip recovery in the GBPUSD pair. Overall, dip-buyers may look to enter into the GBPUSD long trade from the 1.2840 technical area if a pullback occurs.

• 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.