GBPUSD BEARISH BELOW 1.3360 LEVEL
The British pound has pulled back from a two-month trading high against the U.S dollar, as the U.S tax reforms were endorsed by another U.S Senator. Price-action is now trading around the 1.3330 zone, with the pair surviving yet another technical re-test of the 1.3307 support level in Asia. This Tuesday, the BOE will release the Financial Stability report and the Bank of England’s stress test results, followed later by a key-note speech by BOE Governor Mark Carney.
The GBPUSD pair will likely be met with further selling pressure while price trades below the 1.3360 level. Sellers will look to target the 1.3307 and 1.3268 levels.
Should the GBPUSD pair start to trade above the 1.3360 technical level again, further buying towards the 1.3382 and 1.3400 levels appears likely.