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GBPUSD analysis: a break below 1.3000 is expected

GBPUSD analysis: a break below 1.3000 is expected

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.

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.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.

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