The British pound has fallen to yet another 2018 trading-low against the US dollar this morning after United Kingdom Retail Sales turned negative for the month of June. The GBPUSD pair briefly traded below the 1.3000 level, finding support just before the 1.2980 level. Sellers will look for further losses below the 1.2980 level, while buyers will look to move the price back above the 1.3030 resistance level.
The GBPUSD pair is strongly bearish while trading under the 1.3030 level, key technical support is found at the 1.2980 and 1.2940 levels.
If the GBPUSD pair moves above the 1.3030 level, buyers will likely target the 1.3050 and 1.3082 resistance levels.
