GBP/USD falls below 1.3100

GBP/USD has pulled back from recent highs and dropped below the 1.31 mark at the beginning of the New York session as the greenback stages a broad comeback following previous days losses.

GBP/USD failed to hold above the 1.3100 level and hit a low of 1.3077 in recent dealings, having retraced most of its Thursday’s gains,, which were underpinned by better-than-expected UK data. At time of writing, the pair is trading at 1.3085, 0.59% below its opening price. 

GBP/USD technical levels 

As for technical levels, next supports are seen at 1.3012 (10-day SMA), 1.2900 (psychological level), 1.2864 (Aug 15 low), 1.2849 (July 11 low), 1.2795 (31-year low, Jul 6). On the other hand, resistances could be found at 1.3184 (Aug 19 high), 1.3200 (psychological level) and 1.3271 (Aug 1 high).