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.