The British pound is trading above to the 1.3100 level against the US dollar
in early Tuesday trade as the pair attempts to recover back towards the 1.3174 resistance level
. The GBPUSD
pair still has a bullish
weekly trading bias while trading above the important 1.3064 level. Traders remain cautious about GBPUSD
positioning, due to the much-anticipated release of the United Kingdom first-quarter GDP report later this week.
pair is only intraday bearish
while trading below the 1.3100 level, key support is found at the 1.3064 and 1.3000 levels.
If the GBPUSD
pair trades above the 1.3100 level, key intraday resistance is found at the 1.3150 and 1.3174 levels.