GBPUSD bearish under 1.3070
The British pound is under pressure against the US dollar currency, following a heavy upside rejection from the 1.3070 earlier this. GBPUSD bears could start to target the 1.2950 support area if force a sustained technical breakout under the 1.3000 level. To the upside, price stabilization above the pivotal 1.3070 level could provoke a rally back towards the 1.3180 resistance zone.
If the GBPUSD pair trades above the 1.3070 level, key resistance is found at the 1.3130 and 1.3180 levels.
The GBPUSD pair is only bearish while trading below the 1.3070 level, key support is found at the 1.3000 and 1.2950 levels.