GBPUSD STRONGLY BEARISH BELOW 1.3130
The British pound continues to trade towards the bottom end of its one-month range against the U.S dollar, despite better than expected UK Services PMI data earlier. The GBPUSD pair currently trades around the 1.3080 level, managing only a muted reaction to much better UK data. Sterling traders now awaits the release of the NFP jobs report, with expectations for the headline jobs figure skewed to the upside.
The GBPUSD pair is strongly bearish while trading below the 1.3130 level. Further declines towards the 1.3040 and 1.2980 levels remains likely.
Should price-action move back above the 1.3130 level for a sustained period, further upside towards the 1.3200 and 1.3307 levels remains possible.