The British pound appears increasingly weak against the US dollar, with traders using any rallies towards the 1.3100 level as selling opportunities. The GBPUSD pair could start to fall back towards the 1.3000 level if sellers continue to move in from the 1.3100 level. A sustained break below the 1.2960 level could see the GBPUSD pair tumbling towards the 1.2900 level this week.
The GBPUSD pair is only bullish while trading above the 1.3170 level, key resistance is found at the 1.3250 and 1.3300 levels.
The GBPUSD pair is only bearish while trading below the 1.3170 level, key support is found at the 1.3000 and 1.2960 levels.
