The British pound is holding onto recent gains against the greenback as traders await the Bank of England monetary policy decision later today. Further bullish advancement above the 1.2530 level should provoke a test of the 1.2600 level. A loss of the 1.2425 support region is likely to see the GBPUSD suffering a deeper pullback towards the 1.2385 level.
The GBPUSD pair is only bearish while trading below the 1.2425 level, key support remains at the 1.2385 and 1.2350 levels.
If the GBPUSD pair holds above the 1.2425 level, key resistance is found at the 1.2530 and 1.2600 levels.
The GBPUSD pair is only bearish while trading below the 1.2425 level, key support remains at the 1.2385 and 1.2350 levels.
If the GBPUSD pair holds above the 1.2425 level, key resistance is found at the 1.2530 and 1.2600 levels.
