The British pound is holding firm against the greenback in early week trading, with the pair appearing to have a medium-term floor in place around the 1.2770 level. Going forward, GBPUSD buyers could rally price towards the 1.3100 level if buyers can continue to defend the 1.2840 support level. A sustained breakout above the 1.2930 level should be the trigger for a technical test of the 1.3000 level.
The GBPUSD pair is bullish while trading above the 1.2840 level, key resistance is found at the 1.2930 and 1.3000 levels.
If the GBPUSD pair trades below the 1.2840 level, key support is found at the 1.2770 and 1.2710 levels.
