The British pound is starting to attack towards the 1.2480 level against the US dollar, following the release of supportive UK economic data. Bulls will need to lift the GBPUSD pair above the 1.2480 level to progress towards the main intraday resistance area, at 1.2505. GBPUSD sellers will need to hold price under the 1.2450 level to encourage the next round of technical selling.
The GBPUSD pair is only bearish while trading below the 1.2480 level, key support is found at the 1.2450 and 1.2424 levels.
The GBPUSD pair is only bullish while trading above the 1.2480 level, key resistance is found at the 1.2505 and 1.2530 levels.