FURTHER GBPUSD LOSSES EXPECTED BELOW 1.3200
The British pound continues to weaken against the U.S dollar, as Brexit negotiations remain deadlocked between the UK and the European Union. The pair is currently trading around the 1.3180 support level, after yesterday slipping to 1.3154. Traders now await the release of key unemployment and wage data from the United Kingdom economy.
Further GBPUSD selling pressure is expected while the pair trades below the key 1.3200 level. Intraday losses can be seen towards the 1.3154 and 1.3130 support level, with extended intraday support located at 1.3121 and 1.3080.
A sustained move above the 1.3200 level can lead to further intraday gains towards 1.3224 and 1.3233. Extended intraday resistance is located at the 1.3255 and 1.3280 levels.