FxWirePro: GBP/USD heads deeper into bear territory
The Sterling remained in strong bearish tone against dollar on Friday as selling interest continued as the pair was weighted down after stronger than expected jobs data from the United States have again begun to stoke ex…
The Sterling remained in strong bearish tone against dollar on Friday as selling interest continued as the pair was weighted down after stronger than expected jobs data from the United States have again begun to stoke expectations of a September rate hike from the Federal Reserve.
The ongoing weakness is set to continue for this pair as the resistance level at 1.3140 is likely to act as strong barrier to the bulls and bring a further decline towards lower levels.
To the upside, the immediate resistance can be seen at 1.3076, a break above this level would expose to cable to next resistance level at 1.3140.
To the downside, immediate support can be seen at 1.3012, a break below will open the door towards next level at 1.2930.
