GBPUSD Weakens For Second Day In A Row
GBPUSD faces risk of more weakness nearer term following its second day of losses on Thursday. Support lies at 1.3050 area with a break below that level turning focus to the 1.3000 level. Further down, support comes in the 1.2950 level where a violation will shift focus to the 1.2900 level. Below here will open the door towards the 1.2850 level. On the upside, resistance comes in at the 1.3150 with a break above there allowing for more strength to occur towards the 1.3200 level. Further out, resistance stands at the 1.3250 level followed by the 1.3300 level. On the whole, GBPUSD faces further pullback threats on the back of its recent weakness.
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