GBPUSD STRONGLY BEARISH BELOW 1.3115
The British pound remains strongly bearish against the U.S dollar, as selling pressure continues to build during the European trading session. The GBPUSD pair has fallen as low as 1.3070, as broad-based U.S dollar strength dominates the trading theme on Friday. Price-action currently trades just below the 1.3100 level, ahead of the release of key third quarter GDP data from the U.S economy.
The GBPUSD pair remains strongly bearish on an intraday basis while trading below the 1.3115 technical level. Sellers will likely target the 1.3070 and 1.3040 levels while the pair continues trades below the 1.3115 level.
If GBPUSD buyers can push price-action above the 1.3115 level for a sustained period, further upside can be expected towards 1.3135 and 1.3157.