GBPUSD Awaiting range break
The British pound is consolidating between the 1.3300 and 1.3400 level against the US dollar as traders await the latest Brexit news. Confidence towards the GBPUSD pair is likely to grow amongst technical traders while price remains support above the pivotal 1.3300 level. Downside risks for the GBPUSD pair are likely to increase intraday if the pair fall back under the 1.3300 level.
If the GBPUSD pair trades above the 1.3300 level, key resistance is found at the 1.3410 and 1.3550 levels.
The GBPUSD pair is only bearish while trading below the 1.3300 level, key support is found at the 1.3210 and 1.3160 levels.