The British pound has staged a strong rebound from the 1.2830 level against the US dollar after selles failed to break under the current weekly trading low. Going forward, a series of bullish price close is needed above the 1.2900 level is needed to encourage medium-term buying. A new high above the important 1.2960 level would also be extremely bullish for the GBPUSD pair.
The GBPUSD pair is bullish while trading above the 1.2900 level, key resistance is found at the 1.2960 and 1.3100 levels.
If the GBPUSD pair trades below the 1.2900 level, key support is found at the 1.2880 and 1.2830 levels.
