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.
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