24 July GBPUSD Technical Analysis: Pair is testing critical weekly support


Cable has taken advantage of broad dollar weakness in recent days but has been unable to make a decisive break beyond the mid-1.3100 range. What’s next for sellers and buyers? Find out in this 24 July GBPUSD Technical Analysis.

24 July, OctaFX – The British pound is starting to trade towards key weekly support against the US dollar on Tuesday, as the greenback starts to recover higher.

The GBPUSD pair is currently hovering around the key 1.3100 support level, with the price so far finding interim technical support from the 1.3080 level.

Sellers will likely target further losses below the 1.3080 level, while buyers will target the 1.3155 resistance level.

24 July GBPUSD Technical Analysis

  • The GBPUSD pair is bearish while trading below the 1.3100 level, key technical support is found at the 1.3080 and 1.3050 levels.
  • If the GBPUSD pair holds above the 1.3100 level, key resistance is found at the 1.3155 and 1.3194 levels.

Disclaimer

This article about 24 July GBPUSD Technical Analysis 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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