The British pound is starting to recover higher against the greenback as the US dollar index comes under heavy downside pressure on Friday. The weekly price close is now in focus for the GBPUSD pair, with the 2019 trading low becoming the key area to watch. A confirmed weekly price close above the 1.1950 level should encourage strong GBPUSD technical buying next week.

  • The GBPUSD pair is only bearish while trading below the 1.1950 level, key support is found at the 1.1600 and 1.1480 levels.

  • The GBPUSD pair is only bullish while trading above the 1.1950 level, key resistance is found at the 1.2020 and 1.2200 levels.

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