GBPUSD BULLS NEED TO KEEP PRICE ABOVE 1.3205
The British pound continues to trade towards the higher side of its recent short-term trading range against the US dollar, after a bullish weekly price-close above the 1.3200 level. If GBPUSD bulls fail to hold price above the 1.3205 level they risk losses back towards the 1.3101 level. Sterling traders now look towards the release of key June PMI Manufacturing data from the United Kingdom.
The GBPUSD pair is only intraday bullish while trading above the 1.3205 level, key resistance above 1.3205 is currently found at the 1.3280 and 1.3350 levels.
If the GBPUSD pair trades below the 1.3149 level, further losses towards the 1.3124 and 1.3101 levels remain possible.