• 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.
  
  Resistance Levels
  
  R1: 1.3048 (38.2% Retracement Level)
  
  R2: 1.3125 (50% Retracement Level)
  
  R3: 1.3199 (61.8% Retracement Levels)
  
  Support Levels
  
  S1: 1.2955 (23.6% Retracement Level)
  
  S2: 1.2900 (Psychological levels)
  
  S3: 1.2862 (Aug 15th lows)