GBPUSD increasingly bearish
The British pound has fallen below key trendline support against the US dollar, with the pair now testing towards the psychological 1.3000 level. The GBPUSD pair has a strong bearish bias while trading below the 1.3040 level and may soon test the major weekly support, at 1.2970. The bearish projection of the triangle pattern on the four-hour time frame extends over three hundred points.
The GBPUSD pair is heavily bearish while trading below the 1.3040 level, key technical support is found at the 1.2970 and 1.2890 levels
If the GBPUSD pair trades above the 1.3040 level, buyers may test towards the 1.3090 and 1.3110 resistance levels.