30 May GBPUSD Technical Outlook: Strongly bearish below 1.3258


GBPUSD is flat ahead of Wednesday’s European markets as bulls continue to sit on the sidelines and watch the slide continue. What level should traders watch? Gain insights with today’s 30 May GBPUSD Technical Outlook.

30 May, OctaFX – The British pound continues to slump to fresh monthly trading-lows against the US dollar, as traders sell sterling over Italian contagion fears. The GBPUSD pair has also come under pressure, as UK Prime Minister Theresa May battles with hardline Brexiteers inside the Conservative party.

The GBPUSD pair is exposed to selling pressure while trading at current levels, a loss of the 1.3200 level provides the potential for further downside towards 1.3000.

30 May GBPUSD Technical Outlook

  • The GBPUSD pair is strongly bearish while trading below the 1.3258 level, key intraday support is located at the 1.3227 and 1.3200 levels.
  • If the GBPUSD pair moves above the 1.3258 level, we may see price bounce towards the 1.3300 and 1.3355 resistance levels.

 Disclaimer

This article about 30 May 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.

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