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.