GBPUSD remains trapped
The British pound is still confined to narrow trading conditions against the US dollar following the release of important wage and jobs data from the United Kingdom economy this morning. The GBPUSD pair has failed to move above the 1.3100 level and remains trapped within a triangle pattern on the four-hour time frame. The neutral trading pattern is showing that major technical support for the GBPUSD pair is located at the 1.3000 level.
The GBPUSD pair is only bullish while trading above the 1.3100 level, key intraday resistance remains at the 1.3125 and 1.3200 levels.
If the GBPUSD pair trades under the 1.3100 level, key intraday support is found at the 1.3055 and 1.3000 levels.