Ahead of Brexit deadline GBPUSD approaches 1.2980

April 8, OctaFX – The GBPUSD pair is trading back towards the lower end of its recent trading range against the US dollar as the United Kingdom approaches its Brexit deadline this week.

GBPUSD technical outlook

The 1.2980 level is major weekly support area to watch for the GBPUSD pair this week. Weakness below the 1.2980 support level will likely trigger heavily technical selling towards the 1.2880 support region.

  • If the GBPUSD pair trades below the 1.3000 level, key support is found at the 1.2980 and 1.2880 levels.

  • If the GBPUSD pair trades above the 1.3060 level, key resistance is found at the 1.3100 and 1.3180 levels.


This article was provided by OctaFX. It should NOT 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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