GBP/USD: key technical levels

GBP/USD: key technical levels

Trade ideas

BUY 1.2505; TP 1.2700; SL 1.2485

SELL 1.2485; TP1 1.2440; TP2 1.2390; SL 1.2500

GBP/USD is having a third bullish week in a row. The pair has reached our previous buy target at 1.25 and may be up for more given its clear attempt to form a base around 1.20 and the previous break above 1.23. In the short-term, the pair may test lower levels as there's bearish divergence on the H4. The key level for the upside is 1.25 (100-day MA, previous week's highs): the decline there may attract new buyers that will aim at 1.2700/30. If, however, GBP/USD slides below 1.2490, it will be the time for selling with targets at 1.2440 and 1.2390.

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