How is the GBPUSD pair moving today? Read on as OctaFX’s analysts shared their 3 September GBPUSD Technical Forecast.
3 September, OctaFX – The British pound has dropped towards key support against the US dollar after buyers failed to hold onto the psychological 1.3000 level on Friday. Negative MACD divergence on the daily time frame and reports of a possible leadership challenge to British PM Theresa May are weighing on the GBPUSD pairs intraday sentiment.
Sterling traders now await the release of the United Kingdom Manufacturing PMI for the month of August.
GBPUSD Technical Forecast
- The GBPUSD pair is only intraday bullish while trading above the 1.2930 level, key resistance is found at the 1.2950 and 1.3000 levels.
- If the GBPUSD pair moves below the 1.2930 level, sellers may test towards the 1.2900 and 1.2850 support levels.
This article about 3 September GBPUSD Technical Forecast 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.