GBPUSD ONLY BULLISH ABOVE 1.3450 LEVEL
The British pound remains under heavy selling pressure against the greenback, as the US dollar index continues to climb to fresh yearly trading highs. The GBPUSD pair currently trades around the 1.3365 level, after finding strong technical support from the 1.3304 level on Wednesday. Sterling traders now look towards key Retail Sales data from the UK economy, and a scheduled speech from Bank of England Governor Mark Carney later today.
The GBPUSD pair is strongly bearish while trading below the 1.3450 level, key technical support is located at the 1.3304 and 1.3265 levels.
If the GBPUSD pair moves above the 1.3450 level, we may see a technical correction back towards the 1.3500 and 1.3540 resistance levels.