GBPUSD analysis: British pound recovers above 1.3230

March 4, OctaFX – The British pound has recovered back towards the pivotal 1.3230 level against the greenback in early Monday trade, after briefly falling below the 1.3200 support level.

GBPUSD analysis: pair retains a bullish short-term bias

The GBPUSD pair retains a bullish short-term bias while clearly trading above the 1.3230 level. Traders now await key Construction PMI data from the UK economy and the start of fresh Brexit negotiations between EU and UK officials.

  • The GBPUSD pair retains an intraday bullish bias while trading above the 1.3230 level, key technical resistance is found at the 1.3300 and 1.3350 levels

  • If the GBPUSD pair trades below the 1.3230 level, sellers may test towards the 1.3180 and 1.3155 support levels.


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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