The British pound remains well-supported against the US dollar
on Wednesday as traders continue to buy any dips lower in the pair. The GBPUSD
pair has fairly limited technical resistance until the 1.2430 level if buyers can force price above the 1.2380 level. Overall, the 1.2300 level still remains the main technical area that GBPUSD
bulls will look to buy any pullbacks in pair today.
pair is only bearish
while trading below the 1.2290 level, key support is found at the 1.2260 and 1.2200 levels.
If the GBPUSD
pair trades above the 1.2290 level, key resistance is found at the 1.2380 and 1.2430 levels.