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  • Sterling is slumping into the year’s lows after the BoE warned markets to expected a slower pace of rate hikes than most were expecting, sending the GBP/USD back into major bottoms.
  • Mid-tier data is on the economic calendar for the GBP for Friday, leaving overall market direction in the hands of USD traders on the upcoming Non-Farm Payrolls release.
  • A decisive break of the 1.3000 major level could see an accelerated drop for the Pound looking forward.

GBP/USD Chart, 15-Minute

Spot rate:   1.3020
Relative change:   0.09%
High:   1.3022
Low:   1.3005
Trend:   Bearish
Support 1:   1.3005 (current week low)
Support 2:   1.2956 (2018 low)
Support 3:   1.2900 (major technical level)
Resistance 1:   1.3084 (38.2% Fibo retracement level)
Resistance 2:   1.3172 (current week high)
Resistance 3:   1.3212 (previous week high)