The British pound continues to trade the 1.2800 level against US dollar, following yesterday’s reversal from the 1.3000 area. Bulls will be aiming to take the GBPUSD pair towards the 1.3060 level, which is likely to be the first initial bullish target. The wider target this week is the 1.3200 level if bulls can defend the 1.2700 support level.
The GBPUSD pair is only bearish while trading below the 1.2960 level, key support is found at the 1.2900 and 1.2830 levels.
The GBPUSD pair is only bullish while trading above the 1.2960 level, key resistance is found at the 1.3060 and 1.3200 levels.
