The British pound is attempting to stage a recovery against the US dollar on Thursday after bulls continued to defend the important 1.2850 support level. Buyers must still remain cautious as a loss of the 1.2850 level could spark a strong decline in the GBPUSD pair. A sustained breakout above the 1.2900 level could cause the GBPUSD pair to rally back towards the 1.3000 level.
If the GBPUSD pair trades above the 1.2850 level, key resistance is found at the 1.2900 and 1.3000 levels.
If the GBPUSD pair trades below the 1.2850 level, key support is found at the 1.2720 and 1.2500 levels
