GBPUSD 1.2600 possible
The British pound has staged a major comeback against the US dollar currency, with the pair rallying towards the 1.2500 resistance area. The MACD indicator is showing that bullish price divergence could see the GBPUSD pair testing towards the 1.2600 level. To the downside, technical pullbacks in the GBPUSD pair are expected to find strong support from the 1.2250 level.
The GBPUSD pair is only bearish while trading below the 1.2250 level, key support is found at the 1.2200 and 1.2100 levels.
The GBPUSD pair is only bullish while trading above the 1.2250 level, key resistance is found at the 1.2550 and 1.2610 levels.