GBPUSD approaching neckline support
The British pound has continued to move lower against the US dollar during the European trading session, with the pair falling towards key neckline support. If bears trigger the neckline of the head and shoulders pattern further downside towards the 1.2985 support level seems likely. Technical indicators for the GBPUSD pair across the four-hour time frame are also starting to turn lower.
The GBPUSD pair is bearish while trading below the 1.3100 level, key intraday support is found at the 1.2985 and 1.2940 levels.
If the GBPUSD pair trades above the 1.3060 level, key intraday resistance is found at the 1.3100 and 1.3125 levels.