The British pound remains well-supported against the US dollar on Wednesday as traders continue to buy any dips lower in the pair. The GBPUSD pair has fairly limited technical resistance until the 1.2430 level if buyers can force price above the 1.2380 level. Overall, the 1.2300 level still remains the main technical area that GBPUSD bulls will look to buy any pullbacks in pair today.
The GBPUSD pair is only bearish while trading below the 1.2290 level, key support is found at the 1.2260 and 1.2200 levels.
If the GBPUSD pair trades above the 1.2290 level, key resistance is found at the 1.2380 and 1.2430 levels.
