The British pound has continued to push higher against the US dollar during the European trading session, with the pair fast approaching the 1.2195 resistance level. UK General Election news is driving the action, with the GBPUSD pair recovering by two-hundred points since yesterday morning. Overall, the 1.2195 level is expected to provide the strongest resistance before the 1.2310 area.
The GBPUSD pair is only bearish while trading below the 1.2100 level, key support is found at the 1.2020 and 1.1960 levels.
If the GBPUSD pair trades above the 1.2100 level, key resistance is found at the 1.2195 and 1.2310 levels.
