The British pound is firming above the 1.2960 level against the US dollar, further encouraging the notion that a major technical bottom may now be in place. Continued gains above the 1.2960 level could see the GBPUSD pair testing towards the 1.3060 resistance area. At this stage, the psychological 1.3000 level offers the strongest form of resistance for short-term GBPUSD bulls.
The GBPUSD pair is only bearish while trading below the 1.2960 level, key support is found at the 1.2900 and 1.2870 levels.
The GBPUSD pair is only bullish while trading above the 1.2960 level, key resistance is found at the 1.3000 and 1.3060 levels.
