FxWirePro: GBP/USD key support at 1.3212, upside prevails in the short term
GBP/USD pair eased slightly on Wednesday as the pair lost bullish momentum after the pair succumbed to profit taking as Theresa May was set to take over as Britain's prime minister, easing some of the political uncertain…
GBP/USD pair eased slightly on Wednesday as the pair lost bullish momentum after the pair succumbed to profit taking as Theresa May was set to take over as Britain's prime minister, easing some of the political uncertainty.
However, the ongoing upside is set to continue for this pair as the support level at 1.3212 is likely to act as strong barrier to the bears and bring rebound back towards higher in the short term.
To the upside, the strong resistance can be seen at 1.3296, a break above this level would expose the cable to next resistance level at 1.3400.
To the downside immediate support can be seen at 1.3212, a break below at this level will open the door towards next level at 1.3130.
