The British pound is starting to give back gains against the US dollar after the pair found strong resistance from its 200-day moving average, around the 1.2720 level. A sustained break under the 1.2580 level could the GBPUSD pair falling towards the 1.2485 level this week. Dip-buyers are likely to move in strongly from the 1.2485 level if we see a pullback in the GBPUSD pair.
The GBPUSD pair is only bearish while trading below the 1.2480 level, key support is found at the 1.2410 and 1.2350 levels.
If the GBPUSD pair trades above the 1.2480 level, key resistance is found at the 1.2720 and 1.2800 levels.
The GBPUSD pair is only bearish while trading below the 1.2480 level, key support is found at the 1.2410 and 1.2350 levels.
If the GBPUSD pair trades above the 1.2480 level, key resistance is found at the 1.2720 and 1.2800 levels.
