GBPUSD MORE DOWNSIDE LIKELY BELOW 1.3101 LEVEL
The British pound continues to trade to the downside against the US dollar on Friday, ahead of key GDP data from the United Kingdom economy. The GBPUSD pair has been rejected strongly from the 1.3101 level and trades close to its key 100-week moving average. Sterling sellers will look for further losses below the 1.3065 level, while buyers will try to once again move price above the key 1.3101 level.
The GBPUSD pair is strongly bearish while trading below the 1.3101 level, key support is currently found at the 1.3065 and 1.3000 levels.
If the GBPUSD pair trades above the 1.3101 level, key technical resistance is found at the 1.3115 and 1.3142 levels.