GBPUSD trading under key pivot
The British pound has moved sharply lower against the US dollar after the United Kingdom economy released much weaker than expected PMI Manufacturing data. The GBPUSD pair is now trading below the pivotal 1.3090 level and will likely test towards its current weekly trading low. The MACD indicator is also signalling further losses and has started to turn bearish.
The GBPUSD pair is bearish while trading below the 1.3090 level, key technical support is found at the 1.3055 and 1.3025 levels
If the GBPUSD pair trades above the 1.3090 level, key resistance is found at the 1.3130 and 1.3170 levels.