The British pound has soared higher during the European trading session over the recent bullish Brexit news, with the price so far finding strong resistance from the 1.2920 level. The GBPUSD pair has now started to correct lower after the UK economy posted much weaker than expected Manufacturing PMI data. A sustained move below the 1.2852 support level may encourage selling towards the 1.2785 level, while GBPUSD bulls may use pullbacks as buying opportunities.
The GBPUSD pair is bullish while trading above the 1.2852 level, key resistance is now found at the 1.2920 and 1.3000 levels.
If the GBPUSD pair moves below the 1.2852 level, sellers may test towards the 1.2785 and 1.2700 support levels.
