•1.3064 is under strong pressure in support. This line could break in the North American session
•1.3142 has strengthened in resistance following sharp losses by GBP/USD on Friday
Further levels in both directions:
•Below: 1.3064, 1.2938 and 1.2865
•Above: 1.3142, 1.3219, 1.3327 and 1.3480
•Current range: 1.3064 to 1.3142
The British pound has posted sharp losses on Friday, reversing directions after strong gains on Thursday. Early in the North American session, GBP/USD is trading at 1.3060. On the release front, it’s a quiet end to the week, with just one UK release. Public Sector Net Borrowing posted a surplus of GBP 1.5 billion in July, well above expectations. There are no US events on the schedule.