The British pound is attempting to recover against the US dollar, following strong consumer spending figures from the UK economy earlier today. GBPUSD bulls need to break above the 1.2455 level to inspire a technical rally towards the 1.2480 resistance zone. To the downside, sustained losses below the 1.2455 technical resistance area could see the GBPUSD pair falling towards the 1.2380 level.
The GBPUSD pair is only bullish while trading above the 1.2455 level, key resistance is found at the 1.2480 and 1.2515 levels.
The GBPUSD pair is only bearish while trading below the 1.2455 level, key support is found at the 1.2380 and 1.2330 levels.
