The British pound is holding firm above the 1.2400 level against the US dollar, following a huge bullish reversal in the pair on Thursday. The GBPUSD pair could now target the 1.2600 resistance level if bulls continue to hold price above the 1.2410 support level. In the near-term, the 1.2510 level offers the strongest form of intraday technical resistance for the GBPUSD pair.
The GBPUSD pair is only bearish while trading below the 1.2410 level, key support is found at the 1.2380 and 1.2350 levels.
If the GBPUSD pair trades above the 1.2410 level, key resistance is found at the 1.2510 and 1.2600 levels.
