The British pound has reversed sharply lower against the US dollar currency after the pair found strong technical resistance from the 1.2710 area. A higher time frame price close under the 1.2590 support level will confirm that medium-term a price top is now in place. A short-term weakness in the GBPUSD pair will also be confirmed if sellers hold price under the 1.2650 support zone.
If the GBPUSD pair trades above the 1.2590 level, key resistance is found at the 1.2710 and 1.2730 levels.
The GBPUSD pair is only bearish while trading below the 1.2590 level, key support is found at the 1.2500 and 1.2450 levels.
