The British pound has started to recover back above the 1.3000 level against the US dollar currency, following the Bank of England policy meeting. GBPUSD bulls need to break above the 1.3050 resistance level to increase upside pressure towards the pair. Traders that are bearish towards the GBPUSD pair may need to wait for a confirmed technical breakout below the 1.2890 area.
If the GBPUSD pair trades above the 1.2890 level, key resistance is found at the 1.3050 and 1.3130 levels.
The GBPUSD pair is only bearish while trading below the 1.2890 level, key support is found at the 1.2770 and 1.2550 levels.
