GBPUSD STRONGLY BEARISH BELOW 1.3760 LEVEL
The British pound has opened the new trading week under bearish pressure against the U.S dollar, following another strong sell-off in the pound on Friday. The GBPUSD pair currently trades around the 1.3780 level, with two-straight weeks of heavy trading losses weighing on sterling’s trading sentiment. Traders will likely focus on the pivotal 1.3760 technical level, and the former weekly trading-low, which is located at the 1.3746 level.
The GBPUSD pair is strongly bearish while trading below the 1.3760 level, further losses towards the 1.3730 and 1.3695 levels seem possible.
If the GBPUSD pair holds above the 1.3760 level, buyers may be encouraged to test towards the 1.3800 and 1.3860 resistance levels.