The British pound is on the move against the US dollar, following a bullish reversal back above the 1.2900 resistance level. Going forward, GBPUSD short-term dip-buyers are expected to move in from the technically important 1.2880 support level. Overall, traders have few reasons to be bearish towards the GBPUSD pair over the medium-term while price trades above the 1.2840 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.
