The British pound has gradually edged back under the 1.2700 level against the US dollar after bears failed to break the 1.2710 resistance level. The GBPUSD pair is currently neutral until a clear technical break from the 1.2660 to 1.2710 price range occurs. Overall, the GBPUSD pair is likely to be driven by the slew of macroeconomic data being released from the UK and US economies on Friday.
The GBPUSD pair is only bullish while trading above the 1.2710 level, key resistance is found at the 1.2810 and 1.2840 levels.
If the GBPUSD pair trades below the 1.2660 level, key support is found at the 1.2600 and 1.2550 levels.
