GBP/USD Technical Analysis: Cable bears looking at 1.3150 ahead of Brexit vote
|GBP/USD daily chart
- GBP/USD is trading in a bull trend above its main simple moving averages (SMAs).
- At 19:30 GMT, the UK Parliament is going to decide whether the UK PM May's Brexit Plan is valid or not. If the Parliament doesn't approve it, the odds of a hard Brexit will increase greatly. This can lead to high volatility in GBP-related currency pairs.
- GBP/USD is trading above its main SMAs suggesting a bullish momentum in the medium-term.
GBP/USD 30-minute chart
- GBP/USD has been navigating in a 100-pip range between the 1.3150 and 1.3250 level.
- Cable bears need a breakout below 1.3150 to reach 1.3100 and 1.3060 to the downside.
- On the flip side, resistances are seen at 1.3250 and 1.3300 figure.
Additional key levels
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