The British pound is attempting to gain upside momentum against the greenback after slipping back towards the 1.2700 level in early week trade. GBPUSD bulls need to sustain price above the 1.2730 level and stage a breakout above the 1.2770 resistance level. Losses below the 1.2710 level may provoke a much deeper technical correction towards the 1.2660 support level.
The GBPUSD pair is only bullish while trading above the 1.2730 level, key resistance is found at the 1.2770 and 1.2840 levels.
If the GBPUSD pair trades below the 1.2730 level, key support is found at the 1.2710 and 1.2660 levels.