The British pound has recovered back above the 1.3000 level against the US dollar after the US dollar index failed to make traction above the 95.50 level on Thursday. The GBPUSD pair is likely to remain under heavy downside pressure on Friday while trading below the 1.3030 resistance level. Sellers will look for further losses below the 1.3000 level, while buyers will attempt to stabilize price above the 1.3030 level.
The GBPUSD pair is strongly bearish while trading below the 1.3030 level, key technical support is found at the 1.3000 and 1.2954 levels.
If the GBPUSD pair moves above the 1.3030 level, buyers will likely target the key 1.3082 and 1.3100 resistance levels.
