GBPUSD Awaiting data

The British pound remains under pressure against the US dollar currency, following a heavily bearish weekly price close under the 1.2800 level. Sterling traders now await the release of the Inflation Hearing Report and a key Brexit vote in UK Parliament on Tuesday. A break under the 1.2770 level exposes further technical selling towards the GBPUSD pair 200-day moving average.

• The GBPUSD pair is only bearish while trading below the 1.3000 level, key support is found at the 1.2770 and 1.2660 levels. 

• If the GBPUSD pair trades above the 1.3000 level, key resistance is found at the 1.3050 and 1.3100 levels