The British pound is holding onto recent gains against the US dollar, with the 1.2940 level the next key resistance area that buyers need to break. A breakout above the 1.2940 level is likely to encourage GBPUSD buyers to test towards the 1.3000 level. Overall, the GBPUSD pair has a strong short-term bullish bias and is likely to remain well-supported above the 1.2880 technical area.
The GBPUSD pair is bullish while trading above the 1.2880 level, key resistance is found at the 1.2940 and 1.3000 levels.
If the GBPUSD pair trades below the 1.2880 level, key support is found at the 1.2850 and 1.2820 levels.
