The British pound has broken below the important 1.2880 support level against the US dollar, following weaker PMI manufacturing data from the UK economy. The 1.2840 level now provides the strongest form of technical support under the 1.2880 level. Going forward, dip-buyers is still preferred while the GBPUSD pair continues to trade above the 1.2770 support level.
If the GBPUSD pair trades below the 1.2940 level, key support is found at the 1.2880 and 1.2840 levels.
The GBPUSD pair is bullish while trading above the 1.2940 level, key resistance is found at the 1.3000 and 1.3100 levels.