The British pound has moved back towards the 1.3100 support level against the US dollar after sterling found strong technical resistance from the 1.3160 region on Monday. The recent upside correction may be over if sellers can keep price below the pivotal 1.3113 level. With the lack of economic data today, Brexit news and moves in the U.S. Dollar Index are the key factors driving the GBPUSD pair.
The GBPUSD pair is only bearish while trading below the 1.3113 level, key support is found at the 1.3070 and 1.3030 levels.
If the GBPUSD pair holds above the 1.3113 level, buyers may force price towards the 1.3165 and 1.3200 levels.
