The British pound continues to build upside momentum against the US dollar, after bouncing sharply from the 1.1500 level earlier this week. A bullish double-bottom is now in play and could provoke a major test of 2019 low, around the 1.1950 level. Gains above the 1.1950 level could provoke an even stronger recovery in the GBPUSD pair towards the 1.2200 technical area.
The GBPUSD pair is only bearish while trading below the 1.1950 level, key support is found at the 1.1500 and 1.1410 levels.
The GBPUSD pair is only bullish while trading above the 1.1950 level, key resistance is found at the 1.2050 and 1.2200 levels.
