GBPUSD Takes a tumble
The British pound has tumbled back under the 1.3700 support level against the US dollar after the UK posted weaker Retail Sales data and the government threatened to close its borders. Technical analysis highlights that the 1.3660 level is the key intraday pivot point to watch out for when trading the GBPUSD pair. Weakness under this key area could cause the GBPUSD pair to tumble towards the 1.3580 area, and possibly much lower.
The GBPUSD pair is only bullish while trading above the 1.3660 level, key resistance is found at the 1.3700 and the 1.3740 levels.
If the GBPUSD pair trades below the 1.3660, sellers may test the 1.3620 and 1.3580 support levels.