The British pound has moved back towards the highest trading-levels of the week against the US dollar after the UK Construction PMI beat market expectations. The strong recovery from the 1.3100 level continues, with the US dollar index under heavy selling pressure again. Buyers will now try to hold price above the 1.3205 level, while sellers need to close price below the 1.3145 support level.
The GBPUSD pair is strongly bullish while trading above the 1.3205 level, key resistance is found at the 1.3240 and 1.3300 levels.
If the GBPUSD pair trades below the 1.3145 level, a correction back towards the 1.3101 support levels remains possible.
