GBPUSD bears targeting 1.2940
The British pound currency has opened the new trading week under pressure against the US dollar following a bearish weekly price close below the 1.2985 level. The 1.2940 level is the next downside target for sellers, with the 1.2880 level the overall downside objective. Only a sustained move above the 1.3030 level can negate intraday selling pressures surrounding the GBPUSD pair.
The GBPUSD pair is heavily bearish while trading below the 1.2985 level, key support is found at the 1.2940 and 1.2880 levels.
If the GBPUSD pair trades above 1.2985 level, key intraday resistance is found at the 1.3000 and 1.3030 levels.