The British pound is losing upside momentum against the US dollar as selling pressure starts to increase ahead of the FOMC rate decision. Overall, the GBPUSD pair still has a strong short-term bullish bias while price trades above the 1.3080 support level. GBPUSD traders may now cautious that a medium-term price top has now been established around the 1.3214 resistance level.

If the GBPUSD pair trades below the 1.3080 level, key support is found at the 1.3040 and 1.3000 levels.

The GBPUSD pair is bullish while trading above the 1.3080 level, further upside towards the 1.3214 and 1.3300 levels still appears possible.

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