GBPUSD PMI watch
The British pound is under slight downside pressure against the US dollar on Friday as the greenback comes back into favor with investors. GBPUSD traders are now awaiting the release of important PMI Manufacturing data from the UK economy this morning. Worse-than-expected PMI figures could see the GBPUSD testing the 1.3065 level, while better-than-expected numbers could see the pair rallying to the 1.3190 level.
The GBPUSD pair is only bullish while trading above the 1.3065 level, key resistance is found at the 1.3150 and 1.3190 levels.
The GBPUSD pair is only bearish while trading below the 1.3065 level, key support is found at the 1.3000 and 1.2970 levels.