GBPUSD Still Bullish Above 1.2985


Despite the US Dollar’s broad-market bull moves recently, GBPUSD is still bullish above 1.2985 level. What next should short-sellers expect?

17 September, OctaFX – The British pound is starting to weaken pressure against the US dollar after buyers failed to maintain price above the 1.3100 level.

GBPUSD Still Bullish Above 1.2985

Brexit headlines and the US dollar continue to drive the GBPUSD pair, with eurozone negotiators latest bearish comments about the Chequers Brexit deal pushing sterling lower. Buyers need to move the pair above the 1.3100 level once again, while sellers need to move price below the 1.2985 level.

  • The GBPUSD pair is bullish while trading above the 1.2985 level, key resistance is found at the 1.3100 and 1.3145 levels.
  • If the GBPUSD pair moves below the 1.2985 level, key support is found at the 1.2930 and 1.2856 levels.

Disclaimer

This article about GBPUSD Still Bullish Above 1.2985  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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