The British pound is continuing to trade above the 1.2900 level against the US dollar, following Friday’s strong technical reversal in the pair. If buyers can sustain price above the 1.2900 level, further intraday advancement towards the 1.2960 resistance level remains possible. If sellers move price back under the 1.2900 level, a further decline back towards the 1.2830 level may occur.
The GBPUSD pair is only bearish while trading below the 1.2900 level, key technical support is found at the 1.2830 and 1.2790 levels
If the GBPUSD pair holds above the 1.2900 level, buyers may test towards the 1.2960 and 1.3000 levels.
