FxWirePro: GBPUSD trades well below 1.3200, dip till 1.3000 is likely
GBP/USD is trading weak for the second consecutive week . The pair declined more than 100 pips in pthis week . The reason for decline is mainly after Donald Trump threatened that US will impose of trade tariff of $200bn …
GBP/USD is trading weak for the second consecutive week . The pair declined more than 100 pips in pthis week . The reason for decline is mainly after Donald Trump threatened that US will impose of trade tariff of $200bn on China and no Brexit deal. UK PM Theresa May has lost key Brexit vote in the House of Lords and another vote in House of Commons. The slight policy divergence between Fed and BOE is dragging pound further down. It hits low of 1.31593 and is currently trading around 1.31552.
On the higher side, any break above 1.3300 will take the pair to next level till 1.3375/1.3400/1.3460. The minor resistance is around 1.3230/1.3275.
On the lower side, any convincing break below 1.3200 will drag the pair till 1.3090/1.3000.
It is good to sell on rallies around 1.3205-210 with SL around 1.3280 for the TP of 1.3020.
