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GBPUSD price analysis - British pound under bearish pressure

OctaFx | Jun. 17, 2019
GBPUSD price analysis - British pound under bearish pressure

17 June 2019, OctaFX – The British pound has opened the new trading week under pressure against the US dollar after a heavily bearish weekly close under the 1.2600 support level.

GBPUSD technical analysis

If GBPUSD sellers break the 1.2560 support level the pair could slide toward the 1.2480 region. Any intraday bounces higher are expected to find meet with strong technical selling interest from the 1.2630 to 1.2655 levels. The GBPUSD pair is heavily bearish while trading below the 1.2600 level, key support is found at the 1.2560 and 1.2480 levels.

  • GBPUSD price is only bullish while trading above the 1.2660 level, key resistance is located at the 1.2680 and 1.2710 levels.

  • GBPUSD price is heavily bearish while trading below the 1.2600 level, key support is found at the 1.2560 and 1.2480 levels.

GBPUSD

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.