The British pound has moved to a fresh monthly trading high against the US dollar during the European trading session, with the pair cracking the 1.2400 level. The GBPUSD pair could target the 1.2480 level if bulls can maintain price above the 1.2410 technical area. A sustained loss of the 1.2385 support level could prompt technical selling back towards the 1.2330 level.
The GBPUSD pair is only bearish while trading below the 1.2385 level, key support is found at the 1.2335 and 1.2300 levels.
If the GBPUSD pair holds above the 1.2410 level, key resistance is found at the 1.2450 and 1.2480 levels.
