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GBPUSD analysis: Pair remains technically weak

OctaFx | Apr. 18, 2019
GBPUSD analysis: Pair remains technically weak

April 18, OctaFX – The British pound is trading close to the worst levels of the week against the US dollar as traders await the release of Retail Sales data from the United Kingdom economy.

GBPUSD technical outlook

The GBPUSD pair remains technically weak and will decline sharply if the 1.3030 support level is clearly broken. Bulls need to move price above the 1.3080 level to change the intraday sentiment surrounding the GBPUSD pair.

  • The GBPUSD pair is only bullish while trading above the 1.3080 level, key intraday resistance remains at the 1.3100 and 1.3126 levels.

  • If the GBPUSD pair trades under the 1.3030 level, key intraday support is found at the 1.2985 and 1.2940 levels.

GBPUSD analysis

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.