The British pound has opened the new trading week slightly lower against the US dollar after British PM Boris Johnson failed to pass his new Brexit deal over the weekend. The 1.2850 level offers key upcoming support if the 1.2800 level is convincingly broken. Overall, the GBPUSD pair is still settling in a higher trading range and market participants remain optimistic over Brexit.
If the GBPUSD pair trades above the 1.2850 level, key resistance is found at the 1.3000 and 1.3050 levels.
The GBPUSD pair is only bearish while trading below the 1.2850 level, key support is found at the 1.2770 and 1.2720 levels
