The pair has recovered from Friday and entre correction mood, immediate resistance can be found at 1.3155, and on the downside, support level at 1.3100 and followed by 1.3000 psychological thresholds.
GBP/USD is trading higher today on Trump’s positive comments on trade war talks. The price marked a weekly high at 1.3175, but a stong bullish bias will be confirmed only if the pair conquers 1.3200 handle with next target 1.3230.
GBP/Usd seems directionless to consolidate around 1.31 level, but there is the key event to focus on, BoE policy decision--rate hiking might be expected.
BoE raised its interest rate today and on this news the GBP/USD reacted with huge drop, losing 0.65% and marked daily low at 1.3045. The pair succeed to bounce from the low and currently is trading at 1.3058.However to bring back the bullish mode the pair will need to fight first 1.3165 and next 1.3215 and eventually 1.3245. On the other hand bears will need to regain the 1.3000 handle in order to drive the pair down towards 1.2957 (the 2018 low).
GBP/USD is ndermined by Brexit-related concerns and entered into consolidation mode below 1.1300. Strong support is lying at 1.2920 (the weekly low), which if broken to below increases the risk for downward slump and marking fresh yearly lows.
Pound / dollar attempted to rise up yesterday with peak at 1.2827, but dropped then closed down to 1.2719. The signals remain bearish for testing at 1.2650 / 00. Resistance for the day is 1.2730, whose breakthrough can take the price to a neutral zone with testing at 1.2825. I still prefer the bear camp and any bullish pressure should be seen as a normal move and a good sales opportunity.
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