The British pound remains well-supported towards the best level of the month against the greenback, ahead of the release of key UK growth and trade data this morning. UK politics is also in focus today, which promises more volatility in the GBPUSD pair. The GBPUSD has upside resistance around the 1.2355 level, while major weekly support extends down towards the 1.2190 level.
The GBPUSD pair is only bearish while trading below the 1.2300 level, key support is found at the 1.2260 and 1.2190 levels. If the GBPUSD pair trades above the 1.2300 level, key resistance is found at the 1.2355 and 1.2380 levels.