The British pound has moved back towards the highest trading-levels of the week against the US dollar after the UK Construction PMI beat market expectations. What next should trader expect? Find out in the following 3 July GBPUSD Technical Outlook.
3 July, OctaFX – The strong recovery from the 1.3100 level continues, with the US dollar index under heavy selling pressure again. Buyers will now try to hold price above the 1.3205 level, while sellers need to close price below the 1.3145 support level.
3 July GBPUSD Technical Outlook
- The GBPUSD pair is strongly bullish while trading above the 1.3205 level, key resistance is found at the 1.3240 and 1.3300 levels.
- If the GBPUSD pair trades below the 1.3145 level, a correction back towards the 1.3101 support levels remains possible.
This article about 3 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.