The British pound has staged a strong recovery against the US dollar currency, with the pair now approaching the 1.2350 support level. The GBPUSD pair may have found an important price floor at the 1.2250 level and could rally back towards the 1.2450 technical regions. GBPUSD dip-buyers target the 1.2800 resistance level over the medium-term due to the bullish triple-bottom pattern formation now in place.
The GBPUSD pair is only bearish while trading below the 1.2450 level, key support is found at the 1.230 and 1.2250 levels.
The GBPUSD pair is only bullish while trading above the 1.2450 level, key resistance is found at the 1.2500 and 1.2610 levels.
