The British pound has is attempting to recover against the US dollar after the pair reversed sharply from the 1.2800 resistance level last week. Technical analysis shows that the 1.2490 level offers the strongest form of intraday support for the GBPUSD pair. More gains are towards the 1.2640 area remain possible for the GBPUSD pair while price trades above the 1.2490 level.
The GBPUSD pair is only bullish while trading above the 1.2640 level, key resistance is found at the 1.2800 and 1.3000 levels.
The GBPUSD pair is only bearish while trading below the 1.2640 level, key support is found at the 1.2490 and 1.2450 levels.
