The British pound continues to track higher against the US dollar currency, as traders buy any dips below the 1.2550 support area. Lower time frame analysis shows that the 1.2610 level offers the strongest form of near-term technical resistance. Traders should note that the GBPUSD pair may test towards the 1.2650 resistance level if buyers are able to move price past the 1.2610 level.
If the GBPUSD pair trades above the 1.2560 level, key resistance is found at the 1.2620 and 1.2660 levels.
The GBPUSD pair is only bearish while trading below the 1.2560 level, key support is found at the 1.2500 and 1.2450 levels.
