February 5, OctaFX – The British pound remains under selling pressure against the US dollar on Tuesday, with the pair now trading beneath key trendline support.
Further intraday losses are now expected, with the psychological 1.3000 level the main technical support region to watch. The MACD indicator on the four-hour time frame has broken lower, signalling that bearish selling pressure is increasing.
GBPUSD Technical Outlook
- The GBPUSD pair is bearish while trading below the 1.3055 level, key technical support is found at the 1.3000 and 1.2970 levels
- If the GBPUSD pair trades above the 1.3055 level, key resistance is found at the 1.3095 and 1.3130 levels.
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