The British pound is back under pressure against the US dollar after the pair suffered a heavy technical rejection from the 1.2390 level this morning. The GBPUSD pair could fall towards the 1.2280 area if a sellers move price under the 1.2330 support level. To the upside, GBPUSD bulls need to move the price back above the 1.2370 level to encourage another attempt at the 1.2400 level.
The GBPUSD pair is only bearish while trading below the 1.2370 level, key support is found at the 1.2330 and 1.2280 levels.
If the GBPUSD pair moves above the 1.2370 level, key resistance is found at the 1.2415 and 1.2455 levels.