The British pound is still consolidating around the 1.3000 level against the US dollar following the release of mixed GDP data from the UK economy during the European trading session. The four-hour time frame is showing that a sustained break under the 1.2990 level will likely trigger the next round of GBPUSD selling. The bearish pattern on the four-hour time frame also shows the 1.2800 level as a potential downside target.
The GBPUSD pair is only bullish while trading above the 1.3064 level, key resistance is located at the 1.3100 and 1.3130 levels.
If the GBPUSD pair trades below the 1.2990 level, key intraday support is found at the 1.2966 and 1.2910 levels.
