GBPUSD 1.2480 breakout
The British pound has moved to its highest trading level against the US dollar in over one-week as the greenback comes under pressure across the board. A breakout above the 1.2480 level could see the GBPUSD pair rallying towards the 1.2610 level, at a minimum. Technical analysis is also showing that the GBPUSD pair need to maintain price above the 1.2380 level in order to continue attracting buyers.
The GBPUSD pair is only bearish while trading below the 1.2380 level, key support is found at the 1.2250 and 1.2150 levels.
The GBPUSD pair is only bullish while trading above the 1.2380 level, key resistance is found at the 1.2480 and 1.2610 levels.