The British pound has moved back towards the 1.2850 level against the US dollar after the pair received a strong technical rejection from the 1.2900 resistance level. The 1.2810 level now offers the strongest form of technical support prior to the 1.2720 level. Going forward, a break above the 1.2925 level is needed to encourage a technical test of the psychological 1.3000 level.
• If the GBPUSD pair trades below the 1.2850 level, key support is found at the 1.2810 and 1.2770 levels.
• If the GBPUSD pair trades above the 1.2850 level, key resistance is found at the 1.2900 and 1.2925 levels.
• If the GBPUSD pair trades below the 1.2850 level, key support is found at the 1.2810 and 1.2770 levels.
• If the GBPUSD pair trades above the 1.2850 level, key resistance is found at the 1.2900 and 1.2925 levels.
