April 25, OctaFX – In this GBPUSD analysis, the British pound has fallen to a new monthly trading low against the US dollar as the bearish head and shoulders pattern break is increasing technical selling on the pair.
GBPUSD technical analysis
The 1.2880 level is critical support below the 1.2900 level, with the 1.2840 level acting as extended intraday support. GBPUSD bulls need to move price above the 1.2960 level to negate immediate bear pressure.
The GBPUSD pair is heavily bearish while trading below the 1.2960 level, key support is found at the 1.2880 and 1.2840 levels.
If the GBPUSD pair trades above 1.2960 level, key intraday resistance is found at the 1.2975 and 1.3000 levels.
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