Market managed again today to test uptrend support line around 1.3080 while market still holding trades below resistance level 1.3190.

  The USA dollar remained unchanged due to the moderate risk appetite. The optimistic USA statistics together with weakness of the pound supported the dollar.

  The recent rally in the pair GBP/USD was supported by the positive unemployment data. However, yesterday’s retail sales report undermined the overall positive outlook. Today we expect a number of PMI releases.

  Market managed to retreat toward 1.3130 last Friday along with our expectation that short run will sustain trading zone between 1.3100 -1.3535 as we advised last week.

  The news that Cameron officially resigned as the UK Prime Minister and Theresa May took over supported the pound. That news decreased the political uncertainty which followed the Brexit referendum. The pound is under pressure, the pair is waiting for the BoE decision regarding the rate.