GBPUSD support holds
The British pound has started to push higher against the US dollar after key technical support, around the 1.2650 level, held firm. GBPUSD bulls may start to attack towards the 1.2800 resistance area again if they can anchor price above the 1.2720 area. A bullish inverted head and shoulders pattern will 500 points of upside potential is in play while price trades above the 1.2650 level.
The GBPUSD pair is only bullish while trading above the 1.2650 level, key resistance is found at the 1.2720 and 1.2800 levels.
- The GBPUSD pair is only bearish while trading below the 1.2650 level, key support is found at the 1.2600 and 1.2500 levels.