The British pound has rallied against the US dollar currency after the pair managed to attract strong buying interest into the monthly price close. Technical analysis shows that bulls need to anchor the pair above the 1.3000 level to encourage a rally towards the 1.3140 resistance zone. To the downside, weakness below the 1.2900 level could provoke further weakness towards the 1.2550 area.
The GBPUSD pair is only bearish while trading below the 1.2900 level, key support is found at the 1.2800 and 1.2770 levels.
If the GBPUSD pair trades above the 1.2900 level, key resistance is found at the 1.3000 and 1.3040 levels