GBPUSD HEAD AND SHOULDERS IN PLAY BELOW 1.2955
The British pound trades to the downside against the US Dollar in early Tuesday, as bearish technicals and a possible Brexit no-deal, continue to hurt the British pound sentiment. The GBPUSD pair is strongly bearish while trading below the 1.2955 level, as it represents a large head and shoulders pattern neckline. Buyers will attempt to push the price above the 1.2955 level, while sellers will try to push price well-below the 1.2900 level.
The GBPUSD pair is strongly bearish while trading below the 1.2955 level, key support is now found at the 1.2915 and 1.2880 levels.
If the GBPUSD pair moves above the 1.2955 level, buyers may be encouraged to target the 1.3000 and 1.3040 resistance levels.