GBP/USD falls to 1.3100,  fresh 31-year low

Following a shy bounce attempt, GBP/USD turned lower and pushed to fresh 31-year lows at the beginning of the American session.

GBP/USD pierced through the 1.3119-15 zone and hit its lowest level since 1985 at 1.3099 in recent dealings. At time of writing, the pair was trading around 1.3115, 1.24% down on day.

Renewed pressure on the pound came from different sources on Tuesday, ranging from risk aversion, through services PMI data to BoE Governor Carney comments. Carney said that UK has entered a period of uncertainty and significant economic adjustment. He repeated the BoE has a wide range of tools they can use if monetary easing is required.

GBP/USD levels to consider

As for technical levels, next supports could be found at 1.3099 (Jul 5 low) and 1.3000 (psychological level. On the flip side, resistances are seen at  1.3288 (Jul 5 high) and 1.3339/48 (Jul 4 & 1 highs) ahead of 1.3493/1.3500 (Jun 30 high/psychological level).