Technical Analysis

GBPUSD Still Weekly Bearish Below 1.3892 Level


The British pound is struggling to find upside traction against the greenback, after being swiftly rejected from the 1.3870 region during the European trading session. The GBPUSD pair has broadened its daily trading range, with price-action now moving between the 1.3830 to 1.3870 technical regions. Financial markets are increasingly looking towards ongoing Brexit negotiations on Monday, with downside pressures prevailing while the pair trades clearly below the 1.3892 resistance level.

The GBPUSD pair remains bearish while trading below the 1.3892 level, further losses towards 1.3830 and 1.3775 seem possible.

Should the GBPUSD pair move above the key 1.3892 level, buyers may push price-action back towards the 1.3938 and 1.4000 levels.

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