The British pound has recovered above the 1.2800 level against the US dollar after the greenback came under selling pressure towards the end of last weeks price close. The GBPUSD pair also bounced from the 50 percent Fibonacci retracement of the 2019 low to the 2020 high on Friday. If bulls keep price above the 1.2750 support level then the GBPUSD pair could recover back towards the 1.2960 level.
The GBPUSD pair is only bearish while trading below the 1.2960 level, key support is found at the 1.2750 and 1.2710 levels.
The GBPUSD pair is only bullish while trading above the 1.2960 level, key resistance is found at the 1.3060 and 1.3100 levels.
