GBPUSD 1.2900 possible
The British pound appears increasingly bearish against the US dollar currency over the short-term, as the sell-off from the 1.3250 area intensifies. Technical analysis shows that the GBPUSD pair could fall towards the 1.2900 level if the 1.3000 level is broken. To the upside, GBPUSD bulls need to stabilize price above the 1.3130 level to stabilize the pair over the short-term horizon.
The GBPUSD pair is only bearish while trading below the 1.3130 level, key support is found at the 1.3000 and 1.2900 levels.
The GBPUSD pair is only bullish while trading above the 1.3130 level, key resistance is found at the 1.3180 and 1.3260 levels.