GBPUSD INTRADAY BEARISH BELOW 1.3113 LEVEL

The British pound is back under downside pressure against the US, after the chances of the United Kingdom leaving the EU without a deal in place dramatically increased after British PM Theresa May’s speech on Friday. The GBPUSD pair is intraday bearish while trading below the 1.3113 level, the MACD indicator is also now trending lower across the four-hour and daily time frames.

The GBPUSD pair is only bullish while trading above the 1.3113 level, key resistance is then found at the 1.3200 and 1.3255 levels.

If the GBPUSD pair continues to trade below 1.3113 level, further losses towards the 1.3000 and 1.2925 levels remains possible.