The British pound is gaining traction above the 1.2900 level against the US dollar as the greenback remains under wide- spread selling pressure. The 1.2960 level remains key and could be an area traders book profit after the recent 200 pip recovery in the GBPUSD pair. Overall, dip-buyers may look to enter into the GBPUSD long trade from the 1.2840 technical area if a pullback occurs.
The GBPUSD pair is only bearish while trading below the 1.2840 level, key support is found at the 1.2770 and 1.2750 levels.
The GBPUSD pair is only bullish while trading above the 1.2840 level, key resistance is found at the 1.2960 and 1.3000 levels.
