The British pound is starting to advance against the US dollar currency, after breaking through the 1.2240 resistance area earlier today. Technical analysis shows that the GBPUSD pair could rally towards the 1.2420 level if the 1.2270 resistance level is overcome. Traders should note that the 1.2600 level remains the wider bullish target for medium-term GBPUSD buyers.
The GBPUSD pair is only bullish while trading above the 1.2240 level, key resistance is found at the 1.2270 and 1.2420 levels.
The GBPUSD pair is only bearish while trading below the 1.2240 level, key support is found at the 1.2160 and 1.2075 levels.
