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GBPUSD heavily bearish below 1.2985 level

GBPUSD heavily bearish below 1.2985 level

April 19, OctaFX – The British pound has fallen to its weakest trading level against the US dollar so far this month as the greenback surges higher across the board.

GBPUSD technical analysis

The GBPUSD pair is heavily bearish while trading below the 1.2985 level, while the 1.3030 level former support turned key intraday resistance. The downside target of the large head and shoulders pattern on the one-hour time frame extends below the 1.2900 level.

  • The GBPUSD pair is heavily bearish while trading below the 1.2985 level, key support is found at the 1.2940 and 1.2855 levels.

  • If the GBPUSD pair trades above 1.2985 level, key intraday resistance is found at the 1.3030 and 1.3060 levels.

GBPUSD heavily bearish

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.

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