GBPUSD breaking down
The British pound has moved to its weakest level of the year so far against the US dollar as traders turn bearish towards the pair in the short-term. Continued weakness below the 1.2960 level could see the GBPUSD testing the 1.2840 support level. Overall, a better-than-expected jobs number from the US economy today should sink the GBPUSD pair below the 1.2900 level.
The GBPUSD pair is only bearish while trading below the 1.3000 level, key support is found at the 1.2900 and 1.2840 levels.
The GBPUSD pair is only bullish while trading above the 1.3000 level, key resistance is found at the 1.3070 and 1.3100 levels.