The British pound continues to trade well above the 1.2900 level against the US dollar
, following the renewed bullish
sentiment towards the upcoming UK election result. Going forward, the GBPUSD
pair remains a strong buy on dips back towards the 1.2840 level. At present, the 1.2880 level may be the nearest area of support GBPUSD
bulls will attempt to enter if a pullback occurs.
• The GBPUSD
pair is bullish
while trading above the 1.2840 level, key resistance is found at the 1.3000 and 1.3100 levels.
• If the GBPUSD
pair trades below the 1.2940 level, key support is found at the 1.2880 and 1.2840 levels.