GBPUSD Pulls Back from a Two-Week Low

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The British pound sterling fell to a two-week low on Thursday. The declines came mostly on the back of a stronger dollar.

Having lost the 1.3000 handle already, the GBPUSD briefly fell to the two-week low before pulling back slightly.

For the moment, any retest to 1.3000 will see a test of resistance. However, a move above this level could put the GBPUSD back on track to the previous resistance level at 1.3122.

To the downside, a close below the recent swing low could see further declines coming.

This will open the way for the GBPUSD to potentially test the 1.2750 level of support once again.

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