GBPUSD stuck within the range of 1.2702 and 1.2520 level for the moment
Only a strong breakout above 1.2730 upper BB, will confirm further upside in the cable.
A downside breakout from the MA range might put GBPUSD at risk of expect to see a lower close.
The GBPUSD pair is only bullish while trading above the 1.2460 level, another key support is found at the 1.2650 and 1.2460 levels.
If the GBPUSD pair trades above the 1.26500 level, key resistance is found at the 1.2700 and 1.2750 levels.
The pound sterling is seen holding its ground against the US dollar. Prices are up a modest 0.14% as the cable attempts to test the 1.2520 resistance level.
The cable initially pulled back after testing this level just last week. A successful breakout above 1.2520 could open the way for the currency to rise to 1.2640 thereafter.