The British pound looks set for further upside against the US dollar currency after buyers quickly moved in from the 1.2500 support level. GBPUSD technical analysis shows that the 1.2710 level is the next major upside target above the 1.2660 resistance level. GBPUSD bears need to force a breakout under the 1.2550 level to encourage short-term technical selling towards the pair.
The GBPUSD pair is only bearish while trading below the 1.2500 level, key support is found at the 1.2460 and 1.2420 levels.
If the GBPUSD pair trades above the 1.2500 level, key resistance is found at the 1.2660 and 1.2710 levels.
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