GBPUSD potential triple top
The British pound is pushing higher against the US dollar and is testing strong technical resistance from the 1.3190 technical. The lower time frames show a potential triple top formation in place, which is extremely bearish for the GBPUSD pair in the short-term. The GBPUSD pair could decline back towards the 1.3055 level if buyers fail to price past the 1.3190 resistance area.
The GBPUSD pair is only bullish while trading above the 1.3190 level, further upside towards the 1.3250 and 1.3380 levels then seems possible.
If the GBPUSD pair trades below the 1.3190 level, key support is found at the 1.3100 and 1.3055 levels.