The British pound is starting to lose upside momentum against the US dollar, as bulls struggle with the 1.3000 resistance level. The four-hour time frame is currently showing bearish MACD price divergence extending down towards the 1.2500 support level. GBPUSD buyers should be cautious if the 1.2850 level is broken, as the pair could quickly fall into a much lower trading range.
If the GBPUSD pair trades above the 1.2850 level, key resistance is found at the 1.3000 and 1.3080 levels.
The GBPUSD pair is only bearish while trading below the 1.2850 level, key support is found at the 1.2720 and 1.2500 levels
