The British pound currency is once again starting to move lower against the US dollar as the greenback gains strength into the weekend. Technical analysis shows that the 1.2380 level offers critical technical support if a breakout under the 1.2400 level takes place. GBPUSD buyers need to move price above the 1.2480 level today in order to confirm a bullish weekly price close.
The GBPUSD pair is only bearish while trading below the 1.2480 level, key support is found at the 1.2430 and 1.2380 levels.
The GBPUSD pair is only bullish while trading above the 1.2480 level, key resistance is found at the 1.2600 and 1.2650 levels.
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