The British pound is building upside momentum against the US dollar as buyers managed to defend the pivotal 1.2300 support level. GBPUSD buyers may start to attack towards the 1.2450 resistance level to shift the short-term trend from bearish to bullish. A breakout above the 1.2450 level could provide an even more powerful recovery in the GBPUSD pair towards the 1.2600 area.
The GBPUSD pair is only bearish while trading below the 1.2450 level, key support is found at the 1.2300 and 1.2160 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.
