GBPUSD 1.2920 NOW KEY TECHNICAL SUPPORT

The British pound is strongly bullish against the US dollar, after performing its second largest one-day gain of the year on Thursday. The GBPUSD pairs directional is focused on the upside while price trades above the 1.2920 level, which is former key resistance now turned key support. A sustained move above the 1.3000 level should encourage buying towards the 1.3090 level, although GBPUSD bulls may become more cautious ahead of today’s job report from the US economy.

The GBPUSD pair is strongly bullish while trading above the 1.2920 level, key resistance is now found at the 1.3050 and 1.3090 levels.

If the GBPUSD pair moves below the 1.2920 level, sellers may test towards the 1.2880 and 1.2852 support levels.