The British pound is starting to stabilize above the 1.2500 level against the greenback as the US dollar currency appears increasingly. Short-term bulls need to move price above the 1.2550 resistance level to increase GBPUSD technical buying. GBPUSD bears need to hold price under the 1.2455 to encourage the notion that a major price top has already been established.
The GBPUSD pair is only bearish while trading below the 1.2455 level, key support is found at the 1.2420 and 1.2370 levels.
If the GBPUSD pair trades above the 1.2455 level, key resistance is found at the 1.2550 and 1.2700 levels.
