Pound remains under pressure of possible political destabilization

The pound again declined at the opening of the European session after some recovery in early Thursday trading. The possibility of political destabilization in the UK (after the Minister for International Development, Priti Patel, left the government on Wednesday) puts pressure on the pair. Yesterday’s dynamics of the GBP/USD because of the political destabilization in the UK, perfectly worked out the first major level of support, which allowed all who use my analytics to earn about 45 points of profit. Read more …

Technical analysis: At the moment, the GBP/USD pair is testing the support at 1.3100. In case, pair overcomes this support level, one should expect the fall of pair to 1.3060; 1.3000. One should consider the resistance levels at the marks of 1.3145; 1.3180.

Fig.  GBP/USD current price – 1.3087

Alexander Sivtsov