GBPUSD Highly volatile
The British pound remains highly volatile against the US dollar currency, due to the ongoing release of bullish and bearish Brexit news. Technical analysis shows that pair is trading within an extremely large price range, between the 1.2800 and 1.3000 level. Once the mentioned trading range is finally broken, a 200 point directional move in the GBPUSD pair is likely to take place.
The GBPUSD pair is only bearish while trading below the 1.2900 level, key support is found at the 1.2800 and 1.2550 levels.
If the GBPUSD pair trades above the 1.2900 level, key resistance is found at the 1.3000 and 1.3140 levels