The British pound staged a solid rebound above the 1.2500 level against the US dollar on Wednesday, after bears failed to hold price below the 1.2440 level. The GBPUSD pair could start to test towards at least the 1.2600 level if bulls break through the 1.2525 resistance later today . Sellers need to hold price below the 1.2480 level to change the intraday sentiment towards the GBPUSD pair.
The GBPUSD pair is only bullish while trading above the 1.2480 level, key resistance is located at the 1.2525 and 1.2600 levels.
If the GBPUSD pair holds below the 1.2480 level, key support is found at the 1.2460 and 1.2430 levels.
