GBPUSD analysis: British pound drops below 1.3100


March 13, OctaFX – The British pound is trading back under the 1.3100 level against the US dollar after British PM Theresa May’s Brexit vote in UK Parliament was voted down on Tuesday.

GBPUSD analysis: pair bearish under 1.3100

Sellers are now back in control of the GBPUSD pair and will need to move price back under the 1.3055 level in order to maintain the bearish momentum. The 1.3180 level offers the strongest form of near-term resistance above the 1.3100 level.

  • The GBPUSD pair is only bearish while trading below the 1.3100 level, key technical support is found at the 1.3055 and 1.2970 levels

  • If the GBPUSD pair trades above the 1.3100 level, buyers may test towards the 1.3180 and 1.3260 resistance levels.

GBPUSD analysis, British pound

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.

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