GBPUSD looking higher
The British pound faces a pivotal trading week ahead against the greenback, following last weeks strong recovery from the 1.2160 level. A breakout above the 1.2480 resistance level could cause the GBPUSD pair to rally towards the 1.2600 level this week. Traders should note that GBPUSD dip-buyers may be lurking around the 1.2300 technical area if a pullback occurs this week.
The GBPUSD pair is only bearish while trading below the 1.2300 level, key support is found at the 1.2200 and 1.2150 levels.
The GBPUSD pair is only bullish while trading above the 1.2300 level, key resistance is found at the 1.2480 and 1.2610 levels.