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GBPUSD technical analysis: British pound under selling pressure

OctaFx | Mar. 5, 2019
GBPUSD technical analysis: British pound under selling pressure

March 5, OctaFX – The British pound is under selling pressure against the greenback on Tuesday, with the pair now trading below the key 1.3200 support level.

GBPUSD technical analysis

The GBPUSD pair is now testing minor support around the 1.3170 level, with key weekly support below, at 1.3100. Technicals indicators on the four-hour time suggest that the GBPUSD pair has further scope to trade lower in the short-term.

  • The GBPUSD pair is bearish while trading below the 1.3200 level, key technical support is found at the 1.3155 and 1.3100 levels

  • If the GBPUSD pair trades above the 1.3200 level, buyers may test towards the 1.3230 and 1.3260 resistance levels.

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.