GBPUSD 1.3000 key
The British pound is starting to retrace lower against the US dollar as the greenback staged a strong recovery after yesterday’s sell-off. A loss of the 1.3000 support level could see the GBPUSD pair testing the 1.2960 and possibly the 1.2900 support level. Traders should note that yesterday’s advance towards the 1.3200 level has created a large bullish pattern that points to a coming rally towards the 1.3700 level.
The GBPUSD pair is only bearish while trading below the 1.3060 level, key support is found at the 1.3000 and 1.2960 levels.
The GBPUSD pair is only bullish while trading above the 1.3060 level, key resistance is found at the 1.3200 and 1.3280 levels.