GBPUSD 1.3600 now key

The British pound is attempting to recover higher against the US dollar, after the pair sold-off sharply due to British PM Boris Johnson announcing a new national lockdown. Technical analysis shows that failure to rally above the 1.3660 level could cause technical selling to increase. A breakout below the 1.3540 support level could see the GBPUSD pair falling towards the 1.3420 support area.

• The GBPUSD pair is only bullish while trading above the 1.3600 level, key resistance is found at the 1.3660 and the 1.3770 levels.

• If the GBPUSD pair trades below the 1.3600, sellers may test the 1.3540 and 1.3420 support levels.