The British pound has surged above the 1.2900 level against the US dollar after the United Kingdom economy released better than expected jobs and wage data. The 1.2930 resistance level is the next major upside level to watch as it stands as a major technical barrier before the 1.3000 level. The recent rise has created further bearish MACD divergence, as the MACD histogram is failing to rise alongside price.
The GBPUSD pair is intraday bullish while trading above the 1.2890 level, key technical resistance remains at the 1.2930 and 1.3000 levels.
If the GBPUSD pair falls under the 1.2890 level, key support is now found at the 1.2860 and 1.2810 levels.