GBPUSD STILL BULLISH ABOVE 1.3220 LEVEL
The British pound continues to trade towards the 1.3268 level against the U.S dollar, ahead of the UK Autumn Budget. Price-action is currently range-trading between the 1.3220 and 1.3368 levels. With GBPUSD traders awaiting British Chancellor of the Exchequer, Phillip Hammond, to lay out his post-Brexit vision for the UK economy. Later today, we also see a raft of high-impact U.S macro-economic data, with the FOMC Meeting Minutes headlining.
The GBPUSD pair is intraday bullish while trading above the key 1.3220 technical level. Further upside towards the 1.3280 and 1.3307 resistance levels seems likely.
Any loss of the 1.3220 level should lead to a further sell-off in the GBPUSD pair towards the 1.3200 and 1.3168 support regions.