GBPUSD STILL BULLISH ABOVE 1.3400 LEVEL
The British pound continues to hold above the 1.3400 level against the US dollar, as the greenback remains under heavy selling pressure. The GBPUSD pair briefly fell below the 1.3400 level, as reports surfaced that Brexit secretary David Davis is increasingly unhappy with UK PM Theresa May’s handling of Brexit. The GBPUSD pair is likely to challenge the current monthly high, at 1.3471, while price trades above the key 1.3400 level.
The GBPUSD pair is intraday bullish while trading above the 1.3400 level, key technical resistance is now located at the 1.3450 and 1.3471 levels.
If the GBPUSD pair moves below the 1.3400 level, key technical support is found at the 1.3369 and 1.3332 levels.