The British pound has moved higher against the US dollar, following the Federal Open Market Committee interest rate decision on Wednesday. The latest advance in the GBPUSD pair may present an excellent opportunity to buy a breakout around the 1.2925 level. It is worth remembering that with the upcoming UK General Election the British pound is set for more volatile trading action.
If the GBPUSD pair trades below the 1.2925 level, key support is found at the 1.2900 and 1.2850 levels.
If the GBPUSD pair trades above the 1.2925 level, key resistance is found at the 1.3000 and 1.3080 levels.
