GBPUSD GDP watch
The British pound is starting to look heavy above the 1.3800 level against the US dollar as traders await the release of United Kingdom GDP data this morning. Market sentiment towards the GBPUSD pair in the near-term is likely to remain bullish while the 1.3760 area remains well-defended. Traders that are bullish towards the GBPUSD may attempt a buy position around the 1.3760 area.
The GBPUSD pair is only bullish while trading above the 1.3760 level, key resistance is found at the 1.3850 and the 1.3880 levels.
If the GBPUSD pair trades below the 1.3760, sellers may test the 1.3710 and 1.3680 support levels.