GBPUSD News driven
The British pound is attempting to recover above the 1.2900 level against the US dollar currency, as traders await for British PM, Boris Johnson, to comment on the latest Brexit negotiation. Technical analysis shows that the GBPUSD pair could surge towards the 1.3140 area if bullish Brexit news is released. To the downside, bearish Brexit developments could see the GBPUSD pair sold down towards the 1.2810 support region.
If the GBPUSD pair trades above the 1.2900 level, key resistance is found at the 1.3000 and 1.3140 levels.
The GBPUSD pair is only bearish while trading below the 1.2900 level, key support is found at the 1.2850 and 1.2810 levels.