The British pound is back under downside pressure against the US dollar after the Bank of England revised its inflation expectations lower during yesterday’s rate meeting. The GBPUSD pair has a bearish intraday bias while trading below the 1.3050 level and may target the 1.3000 support level. Overall, traders are likely to remain cautious ahead of today’s important monthly jobs report from the United States economy.

The GBPUSD pair is only bullish while trading above the 1.3050 level, key resistance is found at the 1.3100 and 1.3130 levels.

If the GBPUSD pair continues to trade below the 1.3050 level, key intraday support is found at the 1.3000 and 1.2970 levels.

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