The British pound has moved towards the 1.2500 level against the US dollar
, with the pair now reaching its overall short-term bullish
target. The thirty-minute time frame is currently showing bearish MACD
divergence extending down towards the 1.2420. The 1.2600 level remains the extended bullish
target for the GBPUSD
pair, although it appears unlikely that this target will be hit ahead of the FOMC meeting.
pair is only bearish
while trading below the 1.2385 level, key support is found at the 1.2335 and 1.2300 levels.
If the GBPUSD
pair holds above the 1.2410 level, key resistance is found at the 1.2510 and 1.2600 levels.