GBPUSD FINDS RESISTANCE AT 1.3000

The GBPUSD pair has found strong intraday resistance at 1.3007, as the three hundred pip weekly up move takes pause, before the release of high impact United States economic data later today.

During the European session, the price rejection from 1.3007 has extended down to 1.2954, with the pair finding support from the H1 time frame 20 period moving average.

Further GBPUSD price rejection from the 1.3000 level should provoke short term selling in the pair. With sellers targeting the monthly pivot point at 1.2897, and the daily time frame 50 period moving average at 1.2853.

A sustained intraday move above the psychological 1.3000 level and recent price high, should encourage further buying interest towards the 1.3048, with the 1.3105 level the main price objective above the current yearly price high.