STERLING STRONGLY BEARISH BELOW 1.3450
The British pound has moved to the lowest trading level of 2018 against the US dollar, hitting 1.3392 as the greenback strengthens broadly in early week trading. The GBP/USD pair currently trades around the 1.3400 level, and remains extremely weak after breaking below the key 1.3450 support level. Traders look for further sterling selling below the 1.3400 level, and now await a steady stream of FOMC speakers later today.
The GBPUSD pair remains strongly bearish while trading below the 1.3450 level. Key support is now found at the 1.3350 and 1.3310 levels.
If the GBPUSD pair moves above the 1.3450, key resistance is then found at the 1.3480 and 1.3500 resistance levels.