The British pound has reversed back towards the 1.2325 level against the US dollar, as trader book profits ahead of today’s US jobs report. The GBPUSD pair needs to recover back above the 1.2375 level to encourage buyers to tets back towards the current monthly trading high. Overall, a sustained move above the 1.2410 level should be considered extremely bullish for the GBPUSD pair.
The GBPUSD pair is only bearish while trading below the 1.2325 level, key support is found at the 1.2275 and 1.2200 levels.
If the GBPUSD pair trades above the 1.2325 level, key resistance is found at the 1.2410 and 1.2510 levels.
