The British pound has bounced from key technical support against the US dollar, following the release of positive UK economic data. GBPUSD buyers managed to defend the key weekly support area, around the 1.2960 technical region. Bulls now need to rally the GBPUSD pair back towards the neckline of a bullish inverted head and shoulders pattern, around the 1.3160 level.
The GBPUSD pair is only bearish while trading below the 1.3000 level, key support is found at the 1.2960 and 1.2900 levels.
The GBPUSD pair is only bullish while trading above the 1.3000 level, key resistance is found at the 1.3060 and 1.3100 levels.