The British pound is firming above the 1.2940 level against the US dollar as the greenback comes under a fresh round of selling pressure. A sustained break above the 1.2960 resistance level exposes a potential technical test of the psychological 1.3000 level. Once above the 1.3000 level, the GBPUSD pair could quickly trade higher, with the 1.3200 resistance level the medium-term objective.
The GBPUSD pair is bullish while trading above the 1.2900 level, key resistance is found at the 1.2960 and 1.3000 levels.
If the GBPUSD pair trades below the 1.2900 level, key support is found at the 1.2880 and 1.2850 levels.
