GBPUSD 1.2685 still key

The British pound retains a short and medium-term bias against the US dollar currency, as attracts strong buying on interest on any dips towards its key 200-day moving average. GBPUSD bulls could be preparing to attack towards the 1.2800 level while price holds above the 1.2685 level. Short-term weakness under the 1.2685 level could cause the GBPUSD pair to fall towards the 1.2640 support zone.

• If the GBPUSD pair trades above the 1.2685 level, key resistance is found at the 1.2800 and 1.2840 levels. 

• The GBPUSD pair is only bearish while trading below the 1.2685 level, key support is found at the 1.2640 and 1.2590 levels.