The British pound is on the move against the US dollar, following a bullish reversal back above the 1.2900 resistance level. Going forward, GBPUSD short-term dip-buyers are expected to move in from the technically important 1.2880 support level. Overall, traders have few reasons to be bearish towards the GBPUSD pair over the medium-term while price trades above the 1.2840 level.
• If the GBPUSD pair trades below the 1.2940 level, key support is found at the 1.2880 and 1.2840 levels.
• The GBPUSD pair is bullish while trading above the 1.2940 level, key resistance is found at the 1.3000 and 1.3100 levels.
• If the GBPUSD pair trades below the 1.2940 level, key support is found at the 1.2880 and 1.2840 levels.
• The GBPUSD pair is bullish while trading above the 1.2940 level, key resistance is found at the 1.3000 and 1.3100 levels.
