23 July GBPUSD Technical Outlook: Pair is intraday bullish


The GBPUSD major pair is shifting its feet near 1.3140 as GBP traders await fresh headlines concerning Brexit ahead of a quiet Monday on the calendar. What is more? Gain insight into the following 23 July GBPUSD Technical Outlook.

23 July, OctaFX – The British pound continues to benefit from broad-based weakness in the greenback on Monday, with the GBPUSD pair once again reclaiming the 1.3100 level.

The GBPUSD has scope to recover higher while trading above the 1.3100 level, assuming the US dollar index continues to trade lower. Buyers will look to target the 1.3194 level, while sellers will attempt to hold price below the 1.3100 level.

23 July GBPUSD Technical Outlook

  • The GBPUSD pair is intraday bullish while trading above the 1.3100 level, key technical resistance is now found at the 1.3155 and 1.3194 levels.
  • If the GBPUSD pair falls below the 1.3100 level, sellers will likely target the key 1.3080 and 1.3055 resistance levels.

Disclaimer

This article about 23 July GBPUSD Technical Outlook was provided by OctaFX. It should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

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