HomeContributorsTechnical AnalysisGBPUSD Back Under Pressure Below 1.2800

GBPUSD Back Under Pressure Below 1.2800

The British pound has started to once again move lower against the US dollar, following a strong technical rejection from the 1.2831 level during the European trading session. News that British Prime Minister Theresa May will likely face an upcoming leadership challenge is pressuring the GBPUSD pair lower. Sellers need to break the 1.2722 support level while buyers need to move price above the 1.2835 resistance level.

The GBPUSD pair is strongly bearish while trading below the 1.2800 level, key technical support is now found at the 1.2722 and 1.2694 levels.

If the GBPUSD pair trades above the 1.2800 level, key resistance is found at the 1.2835 and 1.2900 levels.

Octa
Octahttp://octaengine.com/c/?p=203&bt=gif&b=2369
Octa (formerly OctaFX) is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and a variety of services already utilised by clients from 180 countries with more than 40 million trading accounts.

Featured Analysis

Learn Forex Trading