How will the British pound move today? The following GBPUSD technical outlook reveals.
22 October, OctaFX – The British pound remains under downside pressure against the US dollar, as Brexit uncertainty continues to support short-term sterling selling.
GBPUSD Technical Outlook
The GBPUSD pair is intraday bearish while trading below the 1.3100 level, although caution is warranted as the MACD indicator on the four-hour time frame is starting to recover higher.
Sellers need to break the former weekly-low, while buyers need to move price above the 1.3100 resistance level.
- The GBPUSD pair is bearish while trading below the 1.3100 level, key support is now found at the 1.3050 and 1.3018 levels.
- If the GBPUSD pair moves above the 1.3100 level, buyers are likely to test the 1.3155 and 1.3200 resistance levels.
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