GBPUSD analysis – British pound continues bearish below 1.2600

4 July 2019, OctaFX – The British pound continues to trade below the 1.2600 level against the US dollar in early Thursday trade, with the pair suffering three days of consecutive losses.

GBPUSD technical analysis

The 1.2548 level is now interim support, with the 1.2505 level major weekly support for the GBPUSD pair. The four-hour time frame shows that a bullish inverted head and shoulders pattern is close to being invalidated.

  • The GBPUSD pair is bearish while trading below the 1.2610 level, key support is found at the 1.2548 and 1.2510 levels.

  •  GBPUSD pair is only bullish while trading above the 1.2610 level, key resistance is found at the 1.2660 and 1.2700 levels.

GBPUSD analysis, British pound continues bearish


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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