The British pound is holding firm against the greenback in early week trading, with the pair appearing to have a medium-term floor in place around the 1.2770 level. Going forward, GBPUSD buyers could rally price towards the 1.3100 level if buyers can continue to defend the 1.2840 support level. A sustained breakout above the 1.2930 level should be the trigger for a technical test of the 1.3000 level.
• The GBPUSD pair is bullish while trading above the 1.2840 level, key resistance is found at the 1.2930 and 1.3000 levels. • If the GBPUSD pair trades below the 1.2840 level, key support is found at the 1.2770 and 1.2710 levels.