The British pound has broken above the psychological 1.2000 level against the US dollar confirming its bullish bias over the short-term. The 1.2200 level is the next major technical challenge for the GBPUSD pair if bulls can gain traction above the 1.2100 level. Overall, the 1.1950 level is now acting as former key resistance turned support over the short-term for the GBPUSD pair.
The GBPUSD pair is only bullish while trading above the 1.1950 level, key resistance is found at the 1.2200 and 1.2250 levels.
The GBPUSD pair is only bearish while trading below the 1.1950 level, key support is found at the 1.1830 and 1.1750 levels.
