The British pound is holding onto recent gains against the greenback, as the pair remains reinvigorated by bullish Brexit news. Bulls will need to close the daily candle above the 1.2310 level to encourage further buying in the GBPUSD. With volatility still high, the GBPUSD pair now has strong technical support from the 1.2155 level on any technical pullback.
The GBPUSD pair is only bearish while trading below the 1.2155 level, key support is found at the 1.2100 and 1.1960 levels.
If the GBPUSD pair trades above the 1.2155 level, key resistance is found at the 1.2250 and 1.2310 levels.
