GBP/USD down a cent to fresh lows near 1.3040

The downside momentum is gathering traction around GBP/USD, which is now flirting with the area of 1.3045/40, or fresh weekly lows.

GBP/USD sold off post-NFP

Cable stays en route to close the week with red figures, as the bearish sentiment keeps accelerating on the back of a revived demand for the greenback following July's payrolls.

In fact, tracked by the US Dollar Index (DXY), the buck has moved further north of the critical 93.00 barrier and is currently flirting with 93.50, fresh multi-day peaks.

In the meantime, the pair remains fragile following increasing weakness around the Sterling post-BoE meeting on Thursday and today’s USD-strength, renewed after the solid results from non farm payrolls.

GBP/USD levels to consider

As of writing the pair is losing 0.72% at 1.3045 and a breach of 1.3041 (21-day sma) would expose 1.3007 (38.2% Fibo of 1.2587-1.3266) and then 1.2930 (low Jul.20). On the upside, the next up barrier emerges at 1.3266 (2017 high Aug.3) followed by 1.3351 (high Sep.12 2016) and finally 1.3447 (high Sep.6 2016).