The British pound has fallen to a fresh 2018 trading-low against the US dollar, as sterling comes under heavy selling pressure ahead of today’s Bank of England rate decision. Yesterday, sterling was strongly rejected from the 1.3215 level, despite British Prime Minister passing a key Brexit vote through the House of Commons. The GBPUSD pair currently trades around the 1.3110 level, with technical selling increasing following the earlier breach of the 1.3145 support level.
The GBPUSD pair is strongly bearish while trading below the 1.3100 level, key technical support is now located at the 1.3060 and 1.3000 levels
If the GBPUSD pair moves above the 1.3145 level, key technical resistance can be found at the 1.3190 and 1.3215 levels.
