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.