The British pound has fallen below the 1.3100 level against the US dollar after reversing sharply from the 1.3130 resistance level during the European trading session. The GBPUSD pair is increasingly likely to test towards the pivotal 1.3064 level while trading under the 1.3100 level. The MACD indicator on the four-hour time frame is also starting to turn lower as downside pressure builds.
The GBPUSD pair is only intraday bearish while trading below the 1.3100 level, key support is found at the 1.3064 and 1.3000 levels.
If the GBPUSD pair trades above the 1.3100 level, key intraday resistance is found at the 1.3130 and 1.3174 levels.
