The British pound has started to reverse direction against the US dollar after the pair found strong technical resistance from the 1.2747 level. If GBPUSD sellers force price below the 1.2700 level, the pair may start to target critical intraday support, at 1.2679. The bullish inverted head and shoulders pattern on the four-hour time frame continues to show the 1.2800 level as a possible upside target.
The GBPUSD pair is only bearish while trading below the 1.2700 level, key support is located at the 1.2679 and 1.2650 levels.
If the GBPUSD pair holds above the 1.2700 level, key intraday resistance is found at the 1.2747 and 1.2765 levels.
