GBP/USD pair declined in the US session as sell-off resumed on Thursday after data showed US economy grew at faster rate than expected in Q2. U.S. economic growth was less sluggish than previously thought in the second q…
GBP/USD pair declined in the US session as sell-off resumed on Thursday after data showed US economy grew at faster rate than expected in Q2.
U.S. economic growth was less sluggish than previously thought in the second quarter as exports grew more than imports and businesses raised their investments.
Currently, the currency pair is trading at 1.2993 levels, it is set to decline towards 1.2955 and later 1.2900 levels in the short term.
To the upside, the strong resistance can be seen at 1.3125, a break above this level would expose to cable to next resistance level at 1.3199.
To the downside major support can be seen at 1.2955, a break below will open the door towards next level at 1.2900.
