GBPUSD FORMER WEEKLY LOW IN FOCUS
The British pound has come under a fresh round of selling pressure against the greenback, as the US dollar Index continues to trade higher. The former weekly trading low is now in focus, at 1.3054, as the GBPUSD pair softens below the 1.3100 level. Sellers will look to target the 1.3000 support level while buyers will attempt to push price above the pivotal 1.3113 level.
The GBPUSD pair is strongly bearish while trading below the 1.3054 level, key support is now found at the 1.3030 and 1.3000 levels.
If the GBPUSD pair moves above the 1.3113 level buyers are likely to test towards the 1.3144 and 1.3217 levels.