GBPUSD TURNING BEARISH BELOW 1.3180
The British pound has started to trade lower against the greenback, as the US dollar index once again starts to firm in early-week trading. The GBPUSD pair has so far found support from the 1.3143 level, although dip-buying is still prevalent after Friday’s rapid advance. Sellers will now try to keep price contained below the 1.3149 support level, while buyers will look to edge price above the 1.3180 level.
The GBPUSD pair is bearish while trading below the 1.3180 level, further declines towards 1.3124 and 1.3101 seems possible.
If the GBPUSD pair moves above the 1.3180 level, buyers may test towards the 1.3205 and 1.3245 levels.