GBPUSD Brexit driven
The British pound is underperforming against the US dollar currency, as the pair consolidates ahead of important Brexit negotiations this week. A bullish breakout above the 1.3400 resistance level could see the GBPUSD pair rallying towards the 1.3650 area this month. To the downside, any price pullback below the 1.3300 level is currently being seen as a dip-buying opportunity.
If the GBPUSD pair trades above the 1.3300 level, key resistance is found at the 1.3410 and 1.3650 levels.
The GBPUSD pair is only bearish while trading below the 1.3300 level, key support is found at the 1.3250 and 1.3200 levels.