GBP/USD Technical Analysis: Cable drops 60 pips as DUP is not supporting the Brexit deal

GBP/USD daily chart

• GBP/USD is trading in a bull trend above its main simple moving averages (SMAs).
• It has just been reported that the DUP (Democratic Unionist Party) is not supporting the Brexit deal and GBP/USD loses about 60 pips on the news.

GBP/USD 4-hour chart

• GBP/USD is trading above its main SMAs suggesting a bullish momentum in the medium-term.

GBP/USD 30-minute chart

• GBP/USD bears are trying to break below 1.3200 figure. The market is likely to continue to weaken towards 1.3150 level. Further down 1.3100 and 1.3060 are the next supports.
• Resistances are seen at 1.3250 and 1.3300 figure.

Additional key levels