GBPUSD risk reversal
The British pound has started to move lower against the US dollar during the European trading session as hopes fade of a Brexit agreement before the start of the EU Summit on Thursday. The 1.2660 level offers the strongest form of technical support for the GBPUSD pair below the 1.2700 level. The weekly Bollinger bands are currently showing that the 1.2840 level is offering the strongest form of technical resistance.
The GBPUSD pair is only bearish while trading below the 1.2660 level, key support is found at the 1.2600 and 1.2515 levels.
If the GBPUSD pair trades above the 1.2660 level, key resistance is found at the 1.2770 and 1.2840 levels.