GBPUSD 1.3400 holds
The British pound has a slight bearish bias against the US dollar currency after suffering another heavy upside rejection from just below the 1.3400 resistance zone. Traders that are bearish towards the GBPUSD may await another lower high on the daily time frame to fade the pair lower. Technical analysis highlights the 1.3230 area as a potential downside target for GBPUSD bears.
If the GBPUSD pair trades above the 1.3310 level, key resistance is found at the 1.3370 and 1.3400 levels.
The GBPUSD pair is only bearish while trading below the 1.3310 level, key support is found at the 1.3230 and 1.3160 levels.