GBPUSD hits bearish target
The British pound continues to erode recent trading gains against the US dollar, with the pair so far finding weekly technical support from the 1.2990 level. The GBPUSD par may have reached its immediate bearish target, although continued weakness below the 1.3000 level could prompt additional weakness. Bulls need to move price back above the 1.3064 resistance level to change the intraday sentiment towards the pair.
The GBPUSD pair is heavily bearish while trading below the 1.3064 level, key support is found at the 1.2990 and 1.2940 levels.
If the GBPUSD pair trades above the 1.3030 level, key intraday resistance is found at the 1.3064 and 1.3100 levels.