The British pound is trading towards the worst levels of the week against the US dollar, following bearish news surrounding future Brexit negotiations. Traders are now looking to target the 1.3000 level, although the 1.2900 level still remains the overall target. At this stage, selling short-term rallies in the GBPUSD pair above the 1.3100 resistance level appears to be the best strategy.
The GBPUSD pair is only bullish while trading above the 1.3190 level, further upside towards the 1.3250 and 1.3380 levels then seems possible.
If the GBPUSD pair trades below the 1.3190 level, key support is found at the 1.3055 and 1.3000 levels.
