GBPUSD TESTING THE 1.3200 LEVEL ONCE AGAIN
The British pound has moved back towards 1.3200 level against the US dollar after retail sales data from the United Kingdom economy came in stronger than expected. The GBPUSD pair now has to keep price above the 1.3200 level or face a further technical rejection lower. The 1.3213 level is a key bullish breakout level while the 1.3100 level is major technical support.
The GBPUSD pair is only bullish while trading above the 1.3140 level, key resistance is found at the 1.3213 and 1.3255 levels.
If the GBPUSD pair moves below the 1.3170 level, key support is found at the 1.3040 and 1.3100 levels.