The British pound is holding the 1.3000 support level against the US dollar currency, as pair attempts to recover recent losses. Technical analysis shows that the GBPUSD pair could test towards the 1.3160 area if the 1.3050 resistance zone is overcome today. To the downside, a sustained decline below the 1.2980 support level could cause the GBPUSD pair to sell-off sharply.
If the GBPUSD pair trades above the 1.3000 level, key resistance is found at the 1.3050 and 1.3160 levels.
The GBPUSD pair is only bearish while trading below the 1.3000 level, key support is found at the 1.2980 and 1.2800 levels.
