The British pound has moved above the 1.2100 level against the US dollar ahead of key employment and unemployment data from the UK economy this morning. The GBPUSD pair could fall towards the 1.2020 support level today if the 1.2090 level is broken. Bulls need to move price back above the 1.2160 level to encourage technical buying towards the 1.2300 resistance level.
The GBPUSD pair is only bearish while trading below the 1.2300 level, key support is found at the 1.2090 and 1.2020 levels.
The GBPUSD pair is only bullish while trading above the 1.2300 level, key resistance is found at the 1.2370 and 1.2420 levels.
