GBPUSD: Halts Weakness, Faces Upside Pressure

30 August 2016, 03:21

GBPUSD: With the pair losing downside steam, the pair faces further bullishness. On the downside, support  lies at the 1.3100 level where a break will turn  attention to the 1.3050 level. Further down, support  lies at the 1.3000 level. Below here will set the stage  for more weakness towards the 1.2950 level. Conversely, resistance stands at the 1.3200 levels with  a turn above here allowing more strength to build up  towards the 1.3250 level. Further out, resistance  resides at the 1.3300 level followed by the 1.3350  level. On the whole, GBPUSD threatens further  downside pressure having lost upside momentum.


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