Friday, August 19, 2016

GBP/USD

•GBP/USD has posted slight losses in both the Asian and European sessions. The pair has posted considerable losses in North American trade
•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.