The daily close will be the one to watch as we have seen the pair try to hold a firm break below 1.3000 over the past few weeks but only to falter at the end of the day.
The pair is trading down 0.3% to 1.2990 at the moment as the dollar is holding more mixed (mostly firmer except against the yen) with the pound not helped by a combination of sluggish risk sentiment and poor UK retail sales data here.
If sellers can keep with the drop below 1.3000 into the weekend, that will pave the way for a potential push towards the 50.0 retracement level of the swing higher from March 2020 to February 2021 @ 1.2830 next.
