GBPUSD turns lower

The British pound has started to move lower against the US dollar after slightly weaker than expected data from the United Kingdom economy. The GBPUSD pair has so far held critical support, although technical indicators on the four-hour frame are now pointing lower. Bulls need to stabilize the GBPUSD pair back above the 1.3064 resistance level to encourage fresh technical buying interest.

• The GBPUSD pair is only intraday bullish while trading above the 1.3064 level, key resistance is located at the 1.3100 and 1.3155 levels.

• If the GBPUSD pair trades below the 1.3125 level, key intraday support is found at the 1.2990 and 1.2966 levels.