GBPUSD analysis: British pound surges toward 1.3300

March 12, OctaFX – The British pound has surged back towards the 1.3300 level against the US dollar after British PM Theresa May confirmed she will be holding a Brexit vote in UK Parliament later today.

GBPUSD analysis: pair is bullish above 1.3100

The GBPUSD pair has a bullish bias while trading above the 1.3100 level, with the 1.3350 level offering the strongest form of resistance above 1.3300. Sellers will need to move price back under the 1.3100 level, in order to negate intraday bullish trading momentum.

  • The GBPUSD pair is only bearish while trading below the 1.3100 level, key technical support is found at the 1.3000 and 1.2970 levels

  • If the GBPUSD pair trades above the 1.3260 level, buyers may test towards the 1.3300 and 1.3350 resistance levels.

GBPUSD analysis, British pound


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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