GBPUSD STILL BEARISH BELOW 1.3340 LEVEL
The British pound has fallen to the 1.3303 level against the U.S dollar, but managed to recover marginally overnight, on U.S political woes. The GBPUSD pair is currently trading around the 1.3326 level, after crashing below the 1.3340 support level yesterday. In the upcoming European trading session, the UK economy releases key wage data for the month of November. Any uptick in UK wage growth, or wage inflation will be taken as bullish for the pound, ahead of tomorrow’s Bank of England monetary policy decision.
The GBPUSD pair remains intraday bearish while trading below the 1.3340 technical level, strong support is found at the 1.3303 and 1.3268 levels.
Should GBPUSD buyers push price-action above the 1.3340 technical level, further buying towards the 1.3380 and 1.3400 levels seems possible.