The British pound is testing towards the 1.3100 resistance level against the US dollar, following the Friday’s heavy sell-off in the US dollar index. The GBPUSD pair has a bullish bias while trading above the 1.3070 level, failure to hold keep price above this level will start to attract sellers. Overall, watch out for the 1.3070 level to act as major pivot point this week to determine the GBPUSD pairs short-term directional bias.
- The GBPUSD pair is only bullish while trading above the 1.3070 level, further upside towards the 1.3130 and 1.3200 levels then seems possible.
- If the GBPUSD pair trades below the 1.3070 level, key support is found at the 1.3055 and 1.3000 levels.
