GBPUSD tumbles below 1.30

The GBPUSD pair is trading around 1.2900.

There isn’t much fresh Brexit news and that is helping buyers remain in the game. At present, the 100 and 200-day MA at 1.2959 and 1.2964 are what is enabling buyers to hold tight with further support seen closer to 1.2945.

Sellers should figure out how to break below that in order to broaden a move to the downside but I figure that will possibly come if we get new Brexit developments during this week.

Therefore, in spite GBPUSD trading below 1.30 currently, it doesn’t imply that sellers are tightly in the driver’s seat. Brexit news will be the key impetus for a crucial directional move in the GBP.

Rose Alice

About: Rose Alice

Rose Alice has a long experience as a currency analyst with a deep knowledge of the relationship between macroeconomics and currencies fluctuation.