The British pound is looking increasingly bearish against the US dollar, following a major technical rejection from the 1.3000 resistance level. Weakness below the 1.2870 level could see the GBPUSD pair tumbling towards the 1.2810 or 1.2770 support zones. Overall, a breakout above the 1.3060 level is needed to confirm that the short-term trend in the GBPUSD pair is no longer bearish.
The GBPUSD pair is only bearish while trading below the 1.3060 level, key support is found at the 1.2810 and 1.2770 levels.
The GBPUSD pair is only bullish while trading above the 1.3060 level, key resistance is found at the 1.3100 and 1.3150 levels.
