GBPUSD weakness expected below 1.3000
The British pound is starting to lose bullish momentum against the US dollar after the pair failed to hold price above the important 1.3095 resistance level. If sellers move price below the 1.3000 support level, a deeper intraday technical correction towards the 1.2965 level may occur. Technical indicators on the key four-hour time frame are also starting to appear overstretched.
The GBPUSD pair is only bullish while trading above the 1.3000 level, key technical resistance is found at the 1.3095 and 1.3200 levels
If the GBPUSD pair trades below the 1.3000 level, sellers may test towards the 1.2965 and 1.2900 support levels.