GBP/USD slides back below 1.3000

GBP/USD retraced completely its daily gains and returned to the 1.3000 area, where it started the day, as the dollar regained strength during the New York session.

GBP/USD pulled back from a high of 1.3093 and lost more than a full cent to score a fresh daily low of 1.2990. Cable has managed to crawl back above the 1.30 mark and it was last trading at 1.3005, virtually unchanged on the day.

GBP/USD levels to watch

On the downside, next supports could be found at 1.2955 (Aug 9 low), 1.2849 (Jul  low) and 1.2795 (Jul 6 low). On the upside, resistances are seen at 1.3093 (Aug 10 high), 1.3145 (10-day SMA) and 1.3174 (Aug 5 high).