POUND CONTINUES TO ADVANCE
The British pound has moved towards the 1.3200 level against the U.S dollar, after the United Kingdom released better than expected manufacturing and industrial production figures for the month of August.
Intraday trading sentiment surrounding the GBPUSD pair on Tuesday supports further gains, after better than expected economic data and price-action remains supported above the key 1.3150 level.
At present, the 1.3200 level is proving strong resistance for the GBPUSD pair, failure to close the next daily price candle back above the 1.3220 level may encourage selling towards the 1.3150 level.
The outcome of today's Catalan parliament session will likely dictate the next directional move in the GBPUSD pair, as the British pound follows the euro's reaction.
Key intraday technical resistance above the 1.3200 level is found at 1.3220 and 1.3243. Above the 1.3243 level, the 1.3268 and 1.3300 offer further strong resistance.
Key intraday technical support is found at 1.3185 and the former swing low, at 1.3158. Once below the 1.3150 level, further support is seen at 1.3130 and 1.3118.