The British pound is moving back towards the 1.2900 level against the US dollar after British PM Theresa May survived a vote of no-confidence in her leadership in UK Parliament on Wednesday. The GBPUSD pairs one-hundred moving average, at 1.2894, is currently capping rallies and is the strongest resistance area before the 1.2930 level. If buyers fail to hold price above the 1.2894 level, a decline back towards the 1.2810 level should be expected.

The GBPUSD pair is intraday bullish while trading above the 1.2810 level, key technical resistance is found at the 1.2894 and 1.2930 levels.

If the GBPUSD pair falls from current levels, key technical support is found at the 1.2810 and 1.2750 levels.

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