GBPUSD Extremely volatile
The British pound is increasingly volatile against the US dollar currency, as the pair range trades between the 1.2800 to 1.3000 area. Traders are currently choosing to buy GBPUSD towards the bottom of the established range and sell GBPUSD at the top of the range. Once the mentioned range is broken a directional move of at least two-hundred points should be expected.
If the GBPUSD pair trades above the 1.2900 level, key resistance is found at the 1.3000 and 1.3100 levels.
The GBPUSD pair is only bearish while trading below the 1.2900 level, key support is found at the 1.2800 and 1.2730 levels.