GBPUSD DOUBLE BOTTOM PATTERN IN FOCUS
The British pound has moved sharply lower against the US dollar during the European trading session, following the unexpected resignation of UK Brexit Secretary Dominic Raab. The GBPUSD pair is back under selling pressure and is intraday bearish while trading below the 1.2900 level. The double-bottom pattern is now coming back into focus, following the recent technical rejection from the 1.3000 level.
The GBPUSD pair is intraday bearish while trading below the 1.2900 level, key technical support is now found at the 1.2750 and 1.2668 levels.
If the GBPUSD pair trades above the 1.2900 level, key resistance is found at the 1.2945 and 1.3000 levels.