The British pound has turned short-term bearish against the US dollar, with the pair falling below major weekly technical support. If GBPUSD sellers maintain price below the 1.3100 level, the pair could continue to weaken towards the 1.2955 level. The MACD indicator on the daily time frame is turning lower and is signaling that downside selling pressure is gathering pace.
The GBPUSD pair is intraday bearish while trading below the 1.3100 level, key technical support is found at the 1.3055 and 1.3000 levels
If the GBPUSD pair trades above the 1.3100 level, buyers may test towards the 1.3130 and 1.3190 resistance levels.
