The British pound has recovered earlier losses against the US dollar after the pair tumbled to the 1.2667 support level, as British PM Theresa May’s Brexit bill being voted down in UK Parliament. The GBPUSD pair retains a strong intraday bullish bias while clearly trading above the pivotal 1.2810 level. Traders now await the outcome of the no-confidence-voted submitted against PM May, following yesterday’s defeat in Parliament.
The GBPUSD pair remains intraday bullish while trading above the 1.2810 level, key technical resistance remains found at the 1.2930 and 1.3000 levels.
If the GBPUSD pair trades below the 1.2810 level, key technical support is found at the 1.2750 and 1.2667 levels.