GBPUSD INTRADAY BULLISH ABOVE 1.3101
The British pound has started to move higher against the US dollar after sellers failed to hold price below the key 1.3101 support level on Monday. The GBPUSD pair currently trades around the 1.3130 region, and retains a bullish intraday bias while trading above the key 1.3101 level. Sterling traders now look to the release of key PMI Construction data from the United Kingdom economy this morning.
The GBPUSD pair is intraday bullish while trading above the 1.3101 level, key resistance is found at the 1.3145 and 1.3205 levels.
If the GBPUSD pair trades below the 1.3101 level, heavy declines towards the 1.3065 and 1.3030 support levels remain possible.