GBPUSD strong demand

The British pound continues to enjoy dip-buying demand against the US dollar currency, with traders buying any dips towards the 1.2900 level. GBPUSD bulls could start to rally the pair towards the 1.3090 level if a breakout above the 1.3015 level takes place. Repeated failure to overcome the 1.3000 resistance level could see the GBPUSD pair falling towards the 1.2785 level.

• If the GBPUSD pair trades above the 1.2900 level, key resistance is found at the 1.3115 and 1.3090 levels. 

• The GBPUSD pair is only bearish while trading below the 1.2900 level, key support is found at the 1.2785 and 1.2740 levels.