GBPUSD Poised to Target 1.2858
The British pound is on track to test the resistance level of 1.2858. This comes after prices briefly tested the support level of 1.2277.
With support forming here, a breakout above the previous local highs of 1.2486 will confirm the move higher.
In the event that prices fail to push higher, we expect a retest of the 1.2277 region. Further to the downside, a close below 1.2277 will signal a move to the lower support of 1.1878.