GBPUSD STILL BEARISH BELOW 1.3600
The British pound continues to struggle against the US dollar in early Monday trading, with buyers again failing to move price above the key 1.3600 level. The GBPUSD pair currently trades around the 1.3560 level, after being strongly rejected from the just below the 1.3600 level on Friday. Sterling traders now look towards a key break of the 1.3500 to 1.3600 trading-range, and the next directional move in the US dollar index.
The GBPUSD pair remains bearish while trading below the 1.3600 level. Further losses towards 1.3531 and 1.3501 seem possible.
If the GBPUSD pair starts to trade above the 1.3600 level, key intraday resistance is now found at the 1.3616 and 1.3650 levels.