The British pound continues to trade below the 1.2900 level against the US dollar, despite a strong technical rebound from the 1.2826 level on Monday. The next large directional move from the GBPUSD pair will likely be driven by the release of key UK Wage and Jobs data later this morning. The intraday sentiment surrounding the GBPUSD pair remains bearish while price trades below the 1.2955 level.
The GBPUSD pair is strongly bearish while trading below the 1.2955 level, key technical support is now found at the 1.2826 and 1.2785 levels.
If the GBPUSD pair trades above the 1.2892 level, buyers may target the 1.2935 and 1.2955 resistance levels.
