30 August GBPUSD Technical Analysis: Pair rises sharply over Brexit optimism


Cable jumped to a new weekly high above 1.3000 on Wednesday amid speculation over Brexit. What levels are the bulls currently eyeing? Let’s find out with the following 30 August GBPUSD Technical Analysis.

30 August, OctaFX – The British pound has moved sharply higher against the US dollar after EU chief negotiator Michel Barnier said that the EU was prepared to offer the United Kingdom a ‘deal like no other’.

Short and medium-term buyers are likely to remain in control while price trades above the 1.2930 support level, the GBPUSD pair is also supported by bullish momentum on the four-hour time frame.

30 August GBPUSD Technical Analysis

  • The GBPUSD pair is strongly bullish while trading above the 1.2930 level, key resistance is found at the 1.3030 and 1.3080 levels.
  • If the GBPUSD pair moves below the 1.2930 level, key support is found at the 1.2900 and 1.2848 levels.

Disclaimer

This article about 30 August 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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