The British pound has found strong technical resistance at the 1.3400 level against the US dollar currency, as trader and investors await the latest Brexit news. Lower time frame analysis shows that the GBPUSD pair could test back towards the 1.3240 level if price falls beneath the pivotal 1.3310 level. Traders should be aware that the 1.3100 level currently offers the strongest form of monthly technical support.
If the GBPUSD pair trades above the 1.3310 level, key resistance is found at the 1.3400 and 1.3500 levels.
The GBPUSD pair is only bearish while trading below the 1.3310 level, key support is found at the 1.3240 and 1.3160 levels.
