GBPUSD 1.3130 key

The GBPUSD pair has suffered a heavy sell-off against the US dollar currency after a new mutation of the COVID-19 virus was found in the United Kingdom. Technical analysis shows that an extremely large bearish pattern will form if the GBPUSD pair reaches the 1.3130 level. According to technical analysis, a 500 point decline could take place if the GBPUSD pair falls below the 1.3130 level.

• The GBPUSD pair is only bullish while trading above the 1.3300 level, key resistance is found at the 1.3550 and the 1.3630 levels.

• If the GBPUSD pair trades below the 1.3300, sellers may test the 1.3130 and 1.2770 support levels.