GBPUSD STRONGLY BEARISH BELOW 1.3130

The British pound continues to trade towards the bottom end of its one-month range against the U.S dollar, despite better than expected UK Services PMI data earlier. The GBPUSD pair currently trades around the 1.3080 level, managing only a muted reaction to much better UK data. Sterling traders now awaits the release of the NFP jobs report, with expectations for the headline jobs figure skewed to the upside.

• The GBPUSD pair is strongly bearish while trading below the 1.3130 level. Further declines towards the 1.3040 and 1.2980 levels remains likely.

• Should price-action move back above the 1.3130 level for a sustained period, further upside towards the 1.3200 and 1.3307 levels remains possible.