UNCERTAINTY CONTINUES TO WEIGH ON STERLING
The GBPUSD pair is fast approaching its 100-day moving average, at 1.3042, as uncertainty surrounding British Prime Minister Theresa May's position as leader of the Conservative Party, continues to weigh heavily on the British pound.
Comments from former Conservative Chairman Grant Shapps, that thirty members of UK parliament want to see Theresa May step-down as UK PM, are adding to the bearish trading sentiment surrounding the British pound.
The GBPUSD pair has now suffered a major technical break-down, after falling below the 1.3145 technical level. Further losses may be seen below the 1.3000 level in the coming trading sessions.
Going forward, today's U.S Nonfarm payrolls jobs numbers may not deflect the heavy bearish sentiment surrounding the British pound.
Key intraday GBPUSD technical support below the pairs 100-day moving average, is found at 1.3000, 1.2950, 1.2880 and the 1.2844 level.
Key intraday GBPUSD technical resistance is now located at 1.3081, 1.3108 and the pairs key 50-day moving average, at 1.3145.