GBPUSD CONTINUES TO STRUGGLE WITH 1.3100 LEVEL
The British pound continues to struggle to move above key resistance against the US dollar, with the price once again rejected from the 1.3100 level. Traders remain cautious ahead of key Brexit events this week, with downside pressure likely to accelerate if the GBPUSD pair trades below the 1.3056 level. Sellers will likely target the 1.3000 support level, while buyers need to breach the current weekly trading high.
The GBPUSD pair is only bullish while trading above the 1.3100 level, key resistance is found at the 1.3160 and 1.3200 levels.
If the GBPUSD pair trades continues to trade below the 1.3056 level, key support is found at the 1.3000 and 1.2940 levels.