GBPUSD more upside expected
The British pound has tested the 1.2600 resistance level against the US dollar as bulls increasingly take control of the pair in the short-term. Looking ahead, sustained gains above the 1.2600 level is likely to lead to a rally towards the 1.2800 resistance level. Any technical pullbacks in the GBPUSD pair are likely to find strong dip-buying interest from the 1.2540 support area.
The GBPUSD pair is only bearish while trading below the 1.2480 level, key support is found at the 1.2350 and 1.2300 levels.
The GBPUSD pair is only bullish while trading above the 1.2480 level, key resistance is found at the 1.2600 and 1.2800 levels.