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.
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