GBPUSD PAIR TUMBLES AFTER GDP REPORT
The British pound has moved sharply lower against the U.S dollar during the European trading session, after the United Kingdom released worse than expected Q1 GDP numbers. The GBPUSD pair currently trades close to the key 1.3800 level, with the intraday price-low at 1.3805, so far. Moving into the U.S session, traders are likely to focus on the 1.3800 support level, and the release of key U.S GDP data.
The GBPUSD pair is intraday bearish while trading below the 1.3886 level, further losses towards the 1.3770 and 1.3730 levels remains possible.
If the GBPUSD pair gains traction above the 1.3886 level, buyers may test towards the 1.3933 and 1.3991 support levels.