GBPUSD needs to bounce
The British pound has fallen towards the 1.3000 support level against the US dollar as the pair continues its recent bearish technical reversal. GBPUD bulls must recover the pair from current levels or risks a deeper decline back toward the 1.2900 and possibly even the 1.2820 level. Overall, the GBPUSD pair needs a positive fundamental catalyst or US dollar weakness to provoke a rally.
The GBPUSD pair is only bullish while trading above the 1.3200 level, further upside towards the 1.3300 and 1.3375 levels then seems possible.
If the GBPUSD pair trades below the 1.3000 level, key support is found at the 1.2900 and 1.2820 levels.