GBP/USD ends the week below 1.3000

GBP/USD steadied over the last sessions after crumbling to fresh 31-year lows on Wednesday as the BoE Financial Stability Report fueled Brexit fears.

After bottoming out at 1.2796 on Wednesday, GBP/USD recovered ground and entered a quieter phase within the 1.2850-1.3050 range. Despite some volatility triggered by strong US NFP, Cable continued to respect the range and is finishing the day at 1.2950, 0.36% up on the day but 2.43% lower over the week.

GBP/USD levels to watch

In terms of technical levels, immediate supports are seen  at 1.2880 (Jul 8 low), 1.2797 (31-year low, Jul 6) and 1.2700 (psychological level). On the other hand, resistances line up at 1.3045 (Jul 7 high), 1.3119 (Jun 27 low) and 1.3164 (10-day SMA).