The British pound has recovered above the key 1.3109 level against the U.S dollar, as sterling paired back losses during today’s Asian trading session. The GBPUSD pair currently trades around the 1.3120 level, despite further political scandals threatening British Prime Minister Theresa May’s leadership. With the economic docket remaining light for the UK and the U.S on Thursday, traders will look to any fresh news coming from the U.S Senate on the proposed tax reform bill.
The GBPUSD pair is still intraday bearish while trading beneath the 1.3130 level. Further losses towards 1.3109 and 1.3086 seem likely. Extended support is found at 1.3040 and 1.2980.
Should price action move above the 1.3130 level for a sustained period, further advancement towards the 1.3161 and 1.3200 levels remains possible.
