The British pound is attempting to recover higher against the US dollar currency, following a protracted decline below the 1.2600 support level. GBPUSD bulls need to anchor price above the 1.2610 resistance level to encourage medium-term technical buying. Failure to move the GBPUSD pair above the 1.2610 level may result in a decline back towards the 1.2550 support area.
If the GBPUSD pair trades above the 1.2610 level, key resistance is found at the 1.2660 and 1.2710 levels.
The GBPUSD pair is only bearish while trading below the 1.2610 level, key support is found at the 1.2550 and 1.2500 levels.