February 22, OctaFX – The British pound is attempting to move lower against the US dollar on Friday after buyers once again failed to hold price above the key 1.3095 resistance level.
GBPUSD technical analysis
A sustained technical break below the 1.3000 support level should encourage strong selling towards the 1.2965 level. If buyers can move price above the 1.3095 level the GBPUSD pair could start to rally towards the 1.3200 level.
- The GBPUSD pair is only bullish while trading above the 1.3000 level, key technical resistance is found at the 1.3095 and 1.3200 levels
- If the GBPUSD pair trades below the 1.3000 level, sellers may test towards the 1.2965 and 1.2900 support levels.
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