GBPUSD TESTING CRITICAL WEEKLY SUPPORT
The British pound is starting to trade towards key weekly support against the US dollar on Tuesday, as the greenback starts to recover higher. The GBPUSD pair is currently hovering around the key 1.3100 support level, with the price so far finding interim technical support from the 1.3080 level. Sellers will likely target further losses below the 1.3080 level, while buyers will target the 1.3155 resistance level.
The GBPUSD pair is bearish while trading below the 1.3100 level, key technical support is found at the 1.3080 and 1.3050 levels.
If the GBPUSD pair holds above the 1.3100 level, key resistance is found at the 1.3155 and 1.3194 levels.