The GBP/USD reaches the 1.2600 level

The Pound versus the Dollar has shown a trend reversal to the upside which has been sustained since it started rallying from the 1.2100 zone to the 1.2600 zone. The pair made a consolidation around the 1.2400 zone and then at the 1.2500 zone. From the 1.2500 level, the GBP/USD gains enough bullish momentum to reach the 1.2600 level. In case the pair breaks above the 1.2600 level, it may reach the 1.2700 zone where we can also find the 200 day EMA, blue line. The 1.2700 zone could act as a very good resistance as it did at the beginning of February. In case the pair retraces to the downside, then the first support could be found at the 1.2500 level, followed by the 1.2400 level. For now the fundamental data and the geopolitical events may continue hurting the dollar; therefore, there is a good chance that the pair may continue heading higher.