The British pound is starting to give back Friday’s trading gains against the US dollar as the greenback enjoys strong early week demand. The GBPUSD could fall back towards its key weekly pivot point, at 1.3064, if the 1.3100 support level is breached. If bulls defend the 1.3100 level, the 1.3180 level currently offers the strongest form of intraday technical resistance.
The GBPUSD pair is only bearish while trading below the 1.3100 level, key support is found at the 1.3064 and 1.3040 levels.
If the GBPUSD pair continues to trade above the 1.3100 level, key intraday resistance is found at the 1.3150 and 1.3180 levels.
