The British pound is under pressure against the US dollar currency after buyers failed to break past the technically important 1.3310 level. Technical analysis highlights that a break under the 1.3240 support level will open up the downside for the GBPUSD pair. Technical analysis across various time frames also shows that a bearish double-top pattern may have formed.
If the GBPUSD pair trades above the 1.3240 level, key resistance is found at the 1.3310 and 1.3360 levels.
The GBPUSD pair is only bearish while trading below the 1.3240 level, key support is found at the 1.3200 and 1.3140 levels.
