The British pound is once again testing towards the 1.2660 level against the US dollar after suffering another strong rejection from the 1.2700 resistance level. Bulls are struggling to keep the GBPUSD pair above the 1.2700 level, with sellers holding the upperhand while price trades below this key level. Overall, a sustained break above the 1.2710 level may inspire another technical test towards the 1.2750 resistance area.
The GBPUSD pair is only bullish while trading above the 1.2700 level, key resistance is located at the 1.2710 and 1.2750 levels.
The GBPUSD pair is only bearish while trading below the 1.2700 level, key intraday support remains at the 1.2665 and 1.2630 levels.
