GBPUSD heavily bearish below 1.2990
The British pound has fallen to a fresh monthly trading low against the US dollar, with the pair once again trading under the psychological 1.3000 level. The GBPUSD pair is heavily bearish while trading under the 1.2990 level and may soon target the 1.2940 support level. The four-hour time frame is showing a bearish head and shoulders pattern with a downside projection of close to two hundred points.
The GBPUSD pair is heavily bearish while trading below the 1.2990 level, key support is found at the 1.2940 and 1.2880 levels.
If the GBPUSD pair trades above the 1.2990 level, key intraday resistance is found at the 1.3035 and 1.3064 levels.