The British pound is still appearing fairly weak against the US dollar as buyers fail to move the pair back above the 1.2500 resistance level. The GBPUSD pair is likely to be heavily influenced by UK data this morning and US jobs data later this afternoon. Overall, a bullish reversal pattern with over 300 points of upside potential remains valid while price trades above the 1.2260 level.
The GBPUSD pair is only bullish while trading above the 1.2500 level, key resistance is found at the 1.2650 and 1.2800 levels.
The GBPUSD pair is only bearish while trading below the 1.2500 level, key support is found at the 1.2400 and 1.2300 levels.
