GBPUSD testing pivotal 1.2890 level
The British pound has recovered early week losses against the US dollar after UK lawmakers proposed a bill to stop a no-deal Brexit. The GBPUSD pair is probing towards the pivotal 1.2890 level, ahead of the release of important jobs data from the UK economy this morning. Bearish MACD divergence is being created on the four-hour time frame, as price is currently trending higher while the MACD histogram remains neutral.
The GBPUSD pair is intraday bullish while trading above the 1.2890 level, key technical resistance is found at the 1.2930 and 1.3000 levels.
If the GBPUSD pair trades below the 1.2890 level, key support is found at the 1.2810 and 1.2778 levels.