Like the euro, cable downshifted at the end of last week as the dollar regained momentum against a basket of its peers. What level should sellers target? Find out in the following 30 July GBPUSD Technical Analysis.
30 July, OctaFX – The British pound continues to trade on the back-foot against the US dollar on Monday, with price currently trapped around the 1.3100 level.
The British pound has also received more bearish Brexit news this morning, with the European Court of Justice being given the final say in a number of important Brexit issues.
Sellers will try to target a sustained break below the 1.3080 support level, while buyers will need to hold price above the 1.3177 level to regain bullish momentum.
30 July GBPUSD Technical Analysis
- The GBPUSD pair is bearish while trading below the 1.3100 level, key support is now found at the 1.3080 and 1.3030 levels.
- If the GBPUSD pair holds above the 1.3177 level, buyers may test towards the 1.3205 and 1.3245 resistance levels.