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.