British Pound Bullish Above 1.3122


OctaFX – The British pound has soared back above the 1.3100 level against the US dollar, after reports that a Brexit divorce deal could be reached between EU and UK negotiators by next Monday.

GBPUSD Strongly Bullish

The GBPUSD pair is strongly bullish while trading above the 1.3122 level, which represents the former weekly high. Buyers will likely aim for further gains above the 1.3200 level, while sellers now need to force price back under the 1.3100 level.

  • The GBPUSD pair is strongly bullish while trading above the 1.3122 level, key resistance is now found at the 1.3160 and 1.3200 levels.
  • If the GBPUSD pair moves below the 1.3122 level, key support is found at the 1.3100 and 1.3056 levels.

Disclaimer

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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