GBPUSD 1.2550 pivot level

The British pound remains has recovered slightly against the US dollar currency, following the recent heavy sell-off in the pair towards the 1.2500 support level. The 1.2550 level is acting as a major pivot point for GBPUSD pair, due to its overall technical importance as a key Fibonacci level. Continued weakness under the 1.2550 level could cause the GBPUSD pair to fall towards the 1.2450 support zone.

• If the GBPUSD pair trades above the 1.2550 level, key resistance is found at the 1.2580 and 1.2610 levels. 

• The GBPUSD pair is only bearish while trading below the 1.2550 level, key support is found at the 1.2480 and 1.2450 levels.