GBP/USD bounces from 1.3000

GBP/USD made an attempt to break below the 1.30 mark, and touched a fresh 31-year low of 1.2999, before being firmly rejected from the psychological area.

The pound came under renewed pressure on Tuesday and dropped more than 180 pips throughout the day to its lowest level in over three decades as BoE announced it will loosen UK banks' requirements to to ensure that credit supply is not interrupted and to combat effects of the Brexit.

GBP/USD technical levels

GBP/USD is currently trading at the 1.3060 zone, recording a 1.80% loss on the day, with next supports seen at 1.2998 (31-year low, Jul 5) and not much until 1.2900 (psychological level). On the other hand, immediate resistances could be found at 1.3288 (Jul 5 high) and 1.3339/48 (Jul 4 & 1 highs) ahead of 1.3493/1.3500 (Jun 30 high/psychological level).